How much would you pay to avoid a second Depression?
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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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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The central bank needs to be able to make policy without short term political concerns.
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I am confident that we will meet whatever challenges the future may bring.
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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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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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…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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I don’t see much evidence of an equity bubble.
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While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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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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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 economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
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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.
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It’s the price of success: people start to think you’re omnipotent.
BEN BERNANKE