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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
Politician
Professor
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Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Values
Destroyed
Declines
Jobs
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True
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Many
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Decline
More quotes by Ben Bernanke
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It takes about two and a half percent growth just to keep unemployment stable.
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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.
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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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Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
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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.
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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 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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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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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
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Speaking as somebody who has been happily married for 35 years, I can't imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.
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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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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.
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The Federal Reserve is not currently forecasting a recession.
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Nobody really understands gold prices and I don't pretend to understand them either.
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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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I don't see much evidence of an equity bubble.
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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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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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