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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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More quotes by Ben Bernanke

The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

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.

The Federal Reserve will not monetize the debt.

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.

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.

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

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.

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.

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.

The Federal Reserve is not currently forecasting a recession.

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.

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.