It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions
BEN BERNANKEThe GSEs are adequately capitalized. They are in no danger of failing.
More Ben Bernanke Quotes
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The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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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.
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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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I come from Main Street, from a small town that’s really depressed.
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Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
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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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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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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
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It’s the price of success: people start to think you’re omnipotent.
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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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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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I don’t fully understand movements in the gold price.
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A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
BEN BERNANKE