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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
Nobody
Either
Understand
Really
Prices
Understands
Pretend
Gold
More quotes by Ben Bernanke
The Federal Reserve will not monetize the debt.
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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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
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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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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.
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A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
Ben Bernanke
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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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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The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.
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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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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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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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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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Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
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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.
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.
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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
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.
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.
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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.
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