Ben Bernanke Quotes
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The movement toward a holistic approach to community development has been long in the making, but the housing crisis has motivated further progress.
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Clear communication is always important in central banking, but it can be especially important when economic conditions call for further policy stimulus but the policy rate is already at its effective lower bound.
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To support continued healthy growth, vigilance in regard to inflation is essential.
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The basic prescription for preventing deflation is straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending, in a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.
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I think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate.
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This necessary spending should not, however, jeopardize the president' long-term deficit-reduction goals.
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Clearly, it's going to affect the Gulf Coast economy quite a bit.
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The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer confidence, and pressuring U.S. financial markets and institutions.
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I do not subscribe to any rigid and mechanical rule ... I intend to be flexible and to learn from experience.
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History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
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All the Federal Reserve can do is make loans against collateral.
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Preventing liquidation of an unbalanced market will leave you in tears.
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The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
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It's the price of success: people start to think you're omnipotent.
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The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.
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It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
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Low marginal tax rates are supportive of economic growth. I would submit that we would want to look very hard at government spending - make sure it's controlled - before we raise taxes, which, in turn, would have negative impacts on the economy.
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Following an extended boom in housing, the demand for homes began to weaken in mid-2005. By the middle of 2006, sales of both new and existing homes had fallen about 15 percent below their peak levels. Homebuilders responded to the fall in demand by sharply curtailing construction.
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I don't know why there aren't more Depression buffs.
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Inflation is up, driven by energy prices. Underlying core rates remain low, which is encouraging.
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Because a person has to be either working or looking for work to be counted as part of the labor force, an increase in the number of people too discouraged to continue their search for work would reduce the unemployment rate, all else being equal - but not for a positive reason.
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If you're in a car crash, you're mostly involved in trying to not go off the bridge, and later on you say, 'Oh my God!'
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In any given month, a large number of workers are being hired or are leaving their current jobs, illustrating the dynamism of the U.S. labor market.