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 BERNANKEIf I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy’s greatest contribution to general economic prosperity and maximum employment.
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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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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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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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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Economics is a very difficult subject. I’ve compared it to trying to learn how to repair a car when the engine is running.
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It’s the price of success: people start to think you’re omnipotent.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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Nobody really understands gold prices and I don’t pretend to understand them either.
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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
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I am very proud of my nerd-dom.
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The 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.
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I am confident that we will meet whatever challenges the future may bring.
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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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The central bank needs to be able to make policy without short term political concerns.
BEN BERNANKE