If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKEIndeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
More Ben Bernanke Quotes
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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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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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The Federal Reserve will not monetize the debt.
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I don’t see much evidence of an equity bubble.
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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 am confident that we will meet whatever challenges the future may bring.
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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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I 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.
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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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The central bank needs to be able to make policy without short term political concerns.
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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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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.
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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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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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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.
BEN BERNANKE