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.
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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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It takes about two and a half percent growth just to keep unemployment stable.
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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 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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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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I don’t fully understand movements in the gold price.
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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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If Wall Street crashes, does Main Street follow? Not necessarily.
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It’s the price of success: people start to think you’re omnipotent.
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Not all information is beneficial.
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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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Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
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I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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I am very proud of my nerd-dom.
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Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
BEN BERNANKE