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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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More quotes by 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.

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.

I am very proud of my nerd-dom.

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.

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.

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.

The Federal Reserve will not monetize the debt.

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.

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.

Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.

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.

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.

If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.