Ben Bernanke Quotes
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The credibility has begun to inure in the institution. Keeping inflation low and stable is an important precondition for a healthy and sustained economic growth.
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Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.
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I don't see any significant risk of a recession.
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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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After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.
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Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.
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The GSEs are adequately capitalized. They are in no danger of failing.
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Neighborhoods and communities are complex organisms that will be resilient only if they are healthy along a number of interrelated dimensions, much as a human body cannot be healthy without adequate air, water, rest, and food.
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Has set the standard for excellence in economic policy-making.
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There is a deficit; I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination.
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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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We must ensure that the funds we commit are spent wisely and with careful oversight.
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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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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In the absence of a shift in market perceptions of the relative attractiveness of U.S. and foreign assets, government policies would likely have only limited effects on the trade balance.
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The Federal Reserve will not monetize the debt.
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We benefit from foreign direct investment. Many Americans are employed by foreign companies with plants in the United States, for example in the automobile industry. So, trade is a two way street. I think, it is important to protect Americans who lose their jobs, or whose jobs come under pressure from international trade. But, I think, we need to be careful not to embrace economic isolationism.
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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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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Many savers are also homeowners; indeed, a family's home may be its most important financial asset. Many savers are working, or would like to be.
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If two people always agree, one of them is redundant.
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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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As an educator myself, I understand the profound effect that good teachers and a quality education have on the lives of our young people.
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The inflation objective is explicitly a long-term or medium term objective. It focuses on, for example, core inflation to avoid getting involved in short-term fluctuations in energy prices and the like.