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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.

Ben Bernanke

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More quotes by Ben Bernanke

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.

The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.

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.

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.

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.

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

The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

I am very proud of my nerd-dom.

The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

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

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.

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.

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

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