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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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Ben Bernanke
Age: 71
Born: 1953
Born: December 13
Banker
Economist
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Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
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Inflation
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More quotes by Ben Bernanke
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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If Wall Street crashes, does Main Street follow? Not necessarily.
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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.
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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.
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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.
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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.
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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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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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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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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.
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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
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
We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
Ben Bernanke
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
September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
Ben Bernanke
I don't see much evidence of an equity bubble.
Ben Bernanke
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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The Federal Reserve is not currently forecasting a recession.
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