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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.

Ben Bernanke

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More quotes by Ben Bernanke

I am very proud of my nerd-dom.

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

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.

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.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

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 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.

Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.

The Federal Reserve will not monetize the debt.

It's the price of success: people start to think you're omnipotent.

The Federal Reserve is not currently forecasting a recession.

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.

One might as well try to perform brain surgery with a sledgehammer.

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.

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