I am confident that we will meet whatever challenges the future may bring.
BEN BERNANKEThe 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.
More Ben Bernanke Quotes
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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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How much would you pay to avoid a second Depression?
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The GSEs are adequately capitalized. They are in no danger of failing.
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It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions
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One might as well try to perform brain surgery with a sledgehammer.
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Not all information is beneficial.
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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.
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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 economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
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I don’t fully understand movements in the gold price.
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Nobody really understands gold prices and I don’t pretend to understand them either.
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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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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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We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
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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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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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Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
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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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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.
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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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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
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In fact, the world needs more nerds.
BEN BERNANKE