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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.
Ben Bernanke
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Ben Bernanke
Age: 71
Born: 1953
Born: December 13
Banker
Economist
Politician
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Teacher
Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
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Economy
More quotes by Ben Bernanke
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
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.
Ben Bernanke
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.
Ben Bernanke
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.
Ben Bernanke
The Federal Reserve will not monetize the debt.
Ben Bernanke
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.
Ben Bernanke
A meritocracy is a system in which the people who are the luckiest in their health and genetic endowment luckiest in terms of family support, encouragement and, probably, income luckiest in their educational and career opportunities and luckiest in so many other ways difficult to enumerate - these are the folks who reap the largest rewards.
Ben Bernanke
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.
Ben Bernanke
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.
Ben Bernanke
If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.
Ben Bernanke
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
Ben Bernanke
If Wall Street crashes, does Main Street follow? Not necessarily.
Ben Bernanke
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.
Ben Bernanke
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.
Ben Bernanke
A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.
Ben Bernanke
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
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
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
Ben Bernanke
I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
Ben Bernanke
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
Ben Bernanke
