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The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
Ben Bernanke
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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
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Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
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More quotes by Ben Bernanke
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
Ben Bernanke
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.
Ben Bernanke
A meritocracy is a system in which the people who are the luckiest in their health and genetic endowment luckiest in terms of family support, encouragement and, probably, income luckiest in their educational and career opportunities and luckiest in so many other ways difficult to enumerate - these are the folks who reap the largest rewards.
Ben Bernanke
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.
Ben Bernanke
The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
Ben Bernanke
The Federal Reserve will not monetize the debt.
Ben Bernanke
Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
Ben Bernanke
It's the price of success: people start to think you're omnipotent.
Ben Bernanke
A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
Ben Bernanke
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
Ben Bernanke
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
Ben Bernanke
The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
Ben Bernanke
If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
Ben Bernanke
I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
Ben Bernanke
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
Ben Bernanke
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.
Ben Bernanke
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.
Ben Bernanke
If Wall Street crashes, does Main Street follow? Not necessarily.
Ben Bernanke
The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.
Ben Bernanke
Life is amazingly unpredictable any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
Ben Bernanke