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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.

Ben Bernanke

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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
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Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Market
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More quotes by Ben Bernanke

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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 financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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 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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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.
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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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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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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.
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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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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.
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I am very proud of my nerd-dom.
Ben Bernanke
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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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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.
Ben Bernanke
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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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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.
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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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It takes about two and a half percent growth just to keep unemployment stable.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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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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