The GSEs are adequately capitalized. They are in no danger of failing.
BEN BERNANKEThe crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
More Ben Bernanke Quotes
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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.
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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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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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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.
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The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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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 central bank needs to be able to make policy without short term political concerns.
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The Federal Reserve will not monetize the debt.
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A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
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Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
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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.
BEN BERNANKE