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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.

Ben Bernanke

The Federal Reserve will not monetize the debt.
BEN BERNANKE

Debt Federal Reserve Reserves
The Federal Reserve is not currently forecasting a recession.
BEN BERNANKE

Federal Forecasting Recession Reserve
Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
BEN BERNANKE

Cutting Important Law
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
BEN BERNANKE

Communication Formal
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKE

Depression Earthquake Want
Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
BEN BERNANKE

Committee Country Moving
Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
BEN BERNANKE

Economy Risk Struggle
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
BEN BERNANKE

Bankers Benefit Fighting
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.
BEN BERNANKE

Incentives Safety Use
We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
BEN BERNANKE

Employment House Thinking
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.
BEN BERNANKE

Acting Country Financial Lace
In fact, the world needs more nerds.
BEN BERNANKE

Needs Nerd World
Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
BEN BERNANKE

Humanity Incentives Today
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

Imagination Thinking Years
Developments in financial markets can have broad economic effects felt by many outside the markets.
BEN BERNANKE

Development Economic Financial
I come from Main Street, from a small town that’s really depressed.
BEN BERNANKE

Main Street Small Towns

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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Economics is a very difficult subject. I’ve compared it to trying to learn how to repair a car when the engine is running.

Related Topics

Popular Authors

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