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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.

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.

I am very proud of my nerd-dom.

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.

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

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

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

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

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.

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

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.

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

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.

The Federal Reserve is not currently forecasting a recession.

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.