The central bank needs to be able to make policy without short term political concerns.
BEN BERNANKEIf you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
More Ben Bernanke Quotes
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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.
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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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I am confident that we will meet whatever challenges the future may bring.
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I don’t fully understand movements in the gold price.
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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.
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I come from Main Street, from a small town that’s really depressed.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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.
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The Federal Reserve will not monetize the debt.
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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
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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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It takes about two and a half percent growth just to keep unemployment stable.
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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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In fact, the world needs more nerds.
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If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy’s greatest contribution to general economic prosperity and maximum employment.
BEN BERNANKE