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The Federal Reserve will not monetize the debt.

Ben Bernanke

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Born: December 13

Ben Shalom Bernanke

Benjamin Shalom Bernanke

More quotes by Ben Bernanke

Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.

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

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.

If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.

I am very proud of my nerd-dom.

I assure this committee that, if I am confirmed, I will be strictly independent of all political influences... essential to that institution's ability to function effectively and achieve its mandated objectives.

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.

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

I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

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.

If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

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.

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.

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