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.
BEN BERNANKEI am confident that we will meet whatever challenges the future may bring.
More Ben Bernanke Quotes
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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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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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 U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
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How much would you pay to avoid a second Depression?
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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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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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I am very proud of my nerd-dom.
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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 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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The Federal Reserve will not monetize the debt.
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If your uniform isn’t dirty, you haven’t been in the game.
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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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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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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.
BEN BERNANKE