Quote

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.

Ben Bernanke

Change background

T

T

T

Change font

More quotes by Ben Bernanke

Speaking as somebody who has been happily married for 35 years, I can't imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.

The Federal Reserve will not monetize the debt.

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.

The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.

I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.

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.

I am very proud of my nerd-dom.

Nobody really understands gold prices and I don't pretend to understand them either.

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

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

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.

The Federal Reserve is not currently forecasting a recession.

A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.

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.

Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

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.