I am very proud of my nerd-dom.
BEN BERNANKEI served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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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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How much would you pay to avoid a second Depression?
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In a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.
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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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Developments in financial markets can have broad economic effects felt by many outside the markets.
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The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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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.
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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.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
BEN BERNANKE