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
BEN BERNANKEThe central bank needs to be able to make policy without short term political concerns.
More Ben Bernanke Quotes
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It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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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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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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The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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I come from Main Street, from a small town that’s really depressed.
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In fact, the world needs more nerds.
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I am confident that we will meet whatever challenges the future may bring.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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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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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.
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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 collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
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I don’t fully understand movements in the gold price.
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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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