The central bank needs to be able to make policy without short term political concerns.
BEN BERNANKEThe impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
More Ben Bernanke Quotes
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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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.
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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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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.
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The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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How much would you pay to avoid a second Depression?
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If Wall Street crashes, does Main Street follow? Not necessarily.
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It’s the price of success: people start to think you’re omnipotent.
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Speaking as somebody who has been happily married for 35 years, I can’t imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.
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One might as well try to perform brain surgery with a sledgehammer.
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House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
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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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A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
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While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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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.
BEN BERNANKE