The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
BEN BERNANKEThe risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
More Ben Bernanke Quotes
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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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I don’t see much evidence of an equity bubble.
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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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Not all information is beneficial.
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Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
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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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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.
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The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
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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.
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How much would you pay to avoid a second Depression?
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Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
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One might as well try to perform brain surgery with a sledgehammer.
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The GSEs are adequately capitalized. They are in no danger of failing.
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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
BEN BERNANKE