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The Federal Reserve is not currently forecasting a recession.

Ben Bernanke

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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.

A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.

The Federal Reserve will not monetize the debt.

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.

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.

I am very proud of my nerd-dom.

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.

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

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.

It takes about two and a half percent growth just to keep unemployment stable.

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

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.

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.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.

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

Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.