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Nobody really understands gold prices and I don't pretend to understand them either.
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
Understand
Really
Prices
Understands
Pretend
Gold
Nobody
Either
More quotes by 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.
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The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
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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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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.
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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.
Ben Bernanke
The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
Ben Bernanke
The Federal Reserve will not monetize the debt.
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If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.
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.
Ben Bernanke
The Federal Reserve is not currently forecasting a recession.
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It takes about two and a half percent growth just to keep unemployment stable.
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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 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 financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
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Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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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.
Ben Bernanke
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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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.
Ben Bernanke
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
