With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.
BEN BERNANKEEvery effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
More Ben Bernanke Quotes
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House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
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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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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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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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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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Speaking as somebody who has been happily married for 35 years, I can’t imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.
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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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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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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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I don’t see much evidence of an equity bubble.
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If your uniform isn’t dirty, you haven’t been in the game.
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I am confident that we will meet whatever challenges the future may bring.
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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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Nobody really understands gold prices and I don’t pretend to understand them either.
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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
BEN BERNANKE