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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

Ben Bernanke

Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.
BEN BERNANKE

Important Mean Strong
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.
BEN BERNANKE

Choices Fields Past
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 BERNANKE

Incentives Safety Use
The GSEs are adequately capitalized. They are in no danger of failing.
BEN BERNANKE

Capitalized Danger Failing
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.
BEN BERNANKE

Employment Financial Growth
Not all information is beneficial.
BEN BERNANKE

Beneficial Information
We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
BEN BERNANKE

Economy Financial Significant
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 BERNANKE

Essentials Independent Political
I don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
BEN BERNANKE

Country Risk Thinking
The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
BEN BERNANKE

Chance Guidance Inference
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
BEN BERNANKE

Communication Formal
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKE

Depression Earthquake Want
One might as well try to perform brain surgery with a sledgehammer.
BEN BERNANKE

Brain might Trying
The Fed is totally open.
BEN BERNANKE

Fed Feel Open Totally
I am very proud of my nerd-dom.
BEN BERNANKE

Doms Nerd Proud
I don’t see much evidence of an equity bubble.
BEN BERNANKE

Bubbles Equity Evidence

If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

Related Topics

Popular Authors

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