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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.

Ben Bernanke

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More quotes by Ben Bernanke

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

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

One might as well try to perform brain surgery with a sledgehammer.

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

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.

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

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

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

The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.

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

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.