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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

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

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

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.

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.

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.

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

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.

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

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

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.

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.

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.

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.

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

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.

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.

It's the price of success: people start to think you're omnipotent.