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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.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

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

I am very proud of my nerd-dom.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

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

The Federal Reserve is not currently forecasting a recession.

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.

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

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

Nobody really understands gold prices and I don't pretend to understand them either.

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 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.

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.