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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

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.

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.

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

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

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.

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

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.

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.

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

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

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.

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.

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.

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

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.