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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
Ben Bernanke
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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
Politician
Professor
Teacher
Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Crisis
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System
Economic
History
Sustained
Long
Recovery
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Financial
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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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The Federal Reserve is not currently forecasting a recession.
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I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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Education - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.
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If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.
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With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.
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I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.
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To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.
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The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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