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

Ben Bernanke

The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
BEN BERNANKE

Entrepreneur People Technology World
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.
BEN BERNANKE

Dirty Essential Games
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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Fundamental Past Strong Years
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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Communication Formal
How much would you pay to avoid a second Depression?
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Borrow Depression Great Pay
Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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Employment Important Long
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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Coffee Responsibility Years
In fact, the world needs more nerds.
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Needs Nerd World
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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Issues Perspective Running
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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Economy Expanding Financial
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.
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Depression Financial Great Result
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.
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Chance Guidance Inference
Nobody really understands gold prices and I don’t pretend to understand them either.
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Gold Gold Price
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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Lessons Long Recovery
If Wall Street crashes, does Main Street follow? Not necessarily.
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Crash Doe Wall
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKE

Depression Earthquake Want

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.

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Popular Authors

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