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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.

Ben Bernanke

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Ben Bernanke
Age: 71
Born: 1953
Born: December 13
Banker
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Ben Shalom Bernanke
Benjamin Shalom Bernanke
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More quotes by Ben Bernanke

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I don't see much evidence of an equity bubble.
Ben Bernanke
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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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Nobody really understands gold prices and I don't pretend to understand them either.
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It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.
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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.
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The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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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.
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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.
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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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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.
Ben Bernanke
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One might as well try to perform brain surgery with a sledgehammer.
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It takes about two and a half percent growth just to keep unemployment stable.
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The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
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The Federal Reserve is not currently forecasting a recession.
Ben Bernanke
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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
Ben Bernanke
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Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
Ben Bernanke
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Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
Ben Bernanke