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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
Ben Bernanke
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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
Politician
Professor
Teacher
Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Geology
Earthquakes
Depression
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Economy
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More quotes by Ben Bernanke
The Federal Reserve is not currently forecasting a recession.
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It takes about two and a half percent growth just to keep unemployment stable.
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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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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.
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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.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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
It's the price of success: people start to think you're omnipotent.
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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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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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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 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
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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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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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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A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.
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 American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.
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
The Federal Reserve will not monetize the debt.
Ben Bernanke