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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

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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
Politician
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Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
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More quotes by Ben Bernanke

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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
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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.
Ben Bernanke
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Nobody really understands gold prices and I don't pretend to understand them either.
Ben Bernanke
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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
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
Ben Bernanke
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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.
Ben Bernanke
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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
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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.
Ben Bernanke
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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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One might as well try to perform brain surgery with a sledgehammer.
Ben Bernanke
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
Ben Bernanke
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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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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
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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.
Ben Bernanke
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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
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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
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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
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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