If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
BEN BERNANKEIn the future, my communications with the public and with the markets will be entirely through regular and formal channels.
More Ben Bernanke Quotes
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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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I don’t see much evidence of an equity bubble.
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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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I am very proud of my nerd-dom.
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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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A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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The central bank needs to be able to make policy without short term political concerns.
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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 basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending.
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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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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 amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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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 come from Main Street, from a small town that’s really depressed.
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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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The Federal Reserve will not monetize the debt.
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It’s the price of success: people start to think you’re omnipotent.
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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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The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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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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I don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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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 financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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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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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.
BEN BERNANKE