Ben Bernanke Quotes
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In the typical economic recovery, a resurgent housing sector helps fuel reemployment and rising incomes.
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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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I don't know why there aren't more Depression buffs.
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It's the price of success: people start to think you're omnipotent.
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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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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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I'd throw dollars out of helicopters if I had to, to stimulate the economy.
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Even if the economy recovers smartly for the rest of this year and the next, the ongoing slack in the economy may still lead to continuing disinflation.
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The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
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The Federal Reserve will not monetize the debt.
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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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How much would you pay to avoid a second Depression?
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If two people always agree, one of them is redundant.
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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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I'm... fairly optimistic today about the ability of the U.S. economy to absorb these body blows.
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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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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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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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I came home from school one day, and there was a phone call for me. And I picked up the phone. They said, 'This is the Harvard Admissions Department. We'd like to let you know that you're accepted in the freshman class.' And I said, 'Come on, who is this really?`
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As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world.
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At this point, a leveling out or a modest softening of housing activity seems more likely than a sharp contraction, although significant uncertainty attends the outlook for home prices and construction.
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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 the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
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At some point in the future, the committee may decide to take no action at one or more meetings in the interest of allowing more time to receive information relevant to the outlook.