Nobody really understands gold prices and I don’t pretend to understand them either.
BEN BERNANKEWeaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.
More Ben Bernanke Quotes
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I come from Main Street, from a small town that’s really depressed.
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I am confident that we will meet whatever challenges the future may bring.
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
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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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The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
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Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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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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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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It takes about two and a half percent growth just to keep unemployment stable.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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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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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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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