Ben Bernanke Quotes
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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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There are various estimates about the third quarter impact, ... Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter.
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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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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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I think it's generally a bad idea for the Fed to be the arbiter of asset prices. The Fed doesn't really have any better information than other people in the market about what the correct value of asset prices is.
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So far, the actual actions taken have been relatively modest, but there is some hope, I think, that, going forward, these actions will advance further and we will see more progress in the current account.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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Well, optimism's a good thing. It - makes people go out and - you know, start businesses and spend and do whatever is necessary to get the economy going.
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I'm... fairly optimistic today about the ability of the U.S. economy to absorb these body blows.
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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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The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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The resilience of the economy ... is helping it to absorb the shocks to energy and transportation from the hurricanes.
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I come from Main Street, from a small town that's really depressed.
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Clearly, it's going to affect the Gulf Coast economy quite a bit.
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Clearly it's going to affect the Gulf Coast economy quite a bit. You've had a lot of property damage. Basic services are down.
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Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.
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In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.
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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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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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Quantitatively, outsourcing abroad simply cannot account for much of the recent weakness in the U.S. labor market and does not appear likely to be an .important restraint to further recovery in employment.
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To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
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Inflation is up, driven by energy prices. Underlying core rates remain low, which is encouraging.
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Our assessment currently is that the risks to inflation are perhaps the more significant at the moment, and we need to address that.
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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.