In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
BEN BERNANKESpeaking 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.
More Ben Bernanke Quotes
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It takes about two and a half percent growth just to keep unemployment stable.
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A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
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The basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.
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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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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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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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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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It’s the price of success: people start to think you’re omnipotent.
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The central bank needs to be able to make policy without short term political concerns.
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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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
BEN BERNANKE