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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.
Ben Bernanke
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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
Politician
Professor
Teacher
Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Years
Unpredictable
Thinking
Lacking
Life
Thinks
Simply
Imagination
Year
Less
Much
Amazingly
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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.
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It's the price of success: people start to think you're omnipotent.
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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
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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.
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Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
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I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.
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One might as well try to perform brain surgery with a sledgehammer.
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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.
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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.
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