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.
BEN BERNANKEThe lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
More Ben Bernanke Quotes
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Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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I come from Main Street, from a small town that’s really depressed.
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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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I am confident that we will meet whatever challenges the future may bring.
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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 impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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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
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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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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 Federal Reserve will not monetize the debt.
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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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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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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.
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Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn’t dirty, you haven’t been in the game.
BEN BERNANKE