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Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.

Ben Bernanke

A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
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Gold People Standard
Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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Employment Important Long
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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Adversity People Use
September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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Financial October September
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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Essentials Independent Political
A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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Cutting Helicopters Milton
So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.
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Country Dollar Employment Overall Strong
Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.
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Important Mean Strong
While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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Delinquency Rising Years
It’s the price of success: people start to think you’re omnipotent.
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People Price Success Thinking
In fact, the world needs more nerds.
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Needs Nerd World
Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
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Depression Financial Great Result
If your uniform isn’t dirty, you haven’t been in the game.
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Dirty Game Graduation
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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Dirty Essential Games
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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Kind Success Years
The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
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Investing Risk Use
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.
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Employment Focus Long
One might as well try to perform brain surgery with a sledgehammer.
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Brain might Trying
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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Communication Formal
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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Committee Country Moving
The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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Entrepreneur People Technology World
The basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending.
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Business Principle Support
If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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Achievement Not Happy Satisfaction
It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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Cost Frustrating Raises
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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Country Risk Thinking
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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Demand Path Risk
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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Acting Country Financial Lace

Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.

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Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.

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