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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: 71
Born: 1953
Born: December 13
Banker
Economist
Politician
Professor
Teacher
Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Depression
Study
Economy
Understand
Geology
Earthquakes
More quotes by Ben Bernanke
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 crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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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.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
Ben Bernanke
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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One might as well try to perform brain surgery with a sledgehammer.
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I don't see much evidence of an equity bubble.
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It's the price of success: people start to think you're omnipotent.
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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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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.
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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.
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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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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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Nobody really understands gold prices and I don't pretend to understand them either.
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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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I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.
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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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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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