We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
BEN BERNANKESpeaking 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.
More Ben Bernanke Quotes
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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 lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
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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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The central bank needs to be able to make policy without short term political concerns.
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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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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
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So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.
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The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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 Fed is totally open.
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It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions
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I don’t fully understand movements in the gold price.
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The Federal Reserve will not monetize the debt.
BEN BERNANKE






