[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
BEN BERNANKEThe risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
More Ben Bernanke Quotes
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The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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It’s the price of success: people start to think you’re omnipotent.
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In fact, the world needs more nerds.
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One might as well try to perform brain surgery with a sledgehammer.
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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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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.
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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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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.
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I am confident that we will meet whatever challenges the future may bring.
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I am very proud of my nerd-dom.
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The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.
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Nobody really understands gold prices and I don’t pretend to understand them either.
BEN BERNANKE