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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
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Ben Bernanke
Age: 71
Born: 1953
Born: December 13
Banker
Economist
Politician
Professor
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Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
People
Stability
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Gold
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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.
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A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.
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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.
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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.
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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.
Ben Bernanke
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.
Ben Bernanke
If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
Ben Bernanke
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
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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 Federal Reserve is not currently forecasting a recession.
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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 American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.
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I assure this committee that, if I am confirmed, I will be strictly independent of all political influences... essential to that institution's ability to function effectively and achieve its mandated objectives.
Ben Bernanke
September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
Ben Bernanke
Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
Ben Bernanke
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
We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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
