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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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More quotes by Ben Bernanke

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

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

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

It takes about two and a half percent growth just to keep unemployment stable.

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.

The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.

It's the price of success: people start to think you're omnipotent.

The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

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

If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.

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.

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

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.

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.

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