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

Ben Bernanke

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More quotes by Ben Bernanke

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

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.

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

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 don't see much evidence of an equity bubble.

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

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

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 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.

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

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.

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

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

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

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.

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.