I assure this committee that, if I am confirmed, I will be strictly independent of all political influences… essential to that institution’s ability to function effectively and achieve its mandated objectives.
BEN BERNANKEBoth humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
More Ben Bernanke Quotes
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Indeed, 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.
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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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The Federal Reserve is not currently forecasting a recession.
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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 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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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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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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It’s the price of success: people start to think you’re omnipotent.
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The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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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 don’t see much evidence of an equity bubble.
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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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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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
BEN BERNANKE