September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
BEN BERNANKESeptember and October of 2008 was the worst financial crisis in global history, including the Great Depression.
More Ben Bernanke Quotes
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I come from Main Street, from a small town that’s really depressed.
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The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
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The Federal Reserve will not monetize the debt.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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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 impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
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It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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It’s the price of success: people start to think you’re omnipotent.
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
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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.
BEN BERNANKE