Quote

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.

Ben Bernanke

Change background

T

T

T

Change font

More quotes by Ben Bernanke

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

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.

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.

I don't see much evidence of an equity bubble.

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

The Federal Reserve is not currently forecasting a recession.

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.

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

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 will not monetize the debt.

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.

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.

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.

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.

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.