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
BEN BERNANKEWe do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
More Ben Bernanke Quotes
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Nobody really understands gold prices and I don’t pretend to understand them either.
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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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In fact, the world needs more nerds.
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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 risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
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It takes about two and a half percent growth just to keep unemployment stable.
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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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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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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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I assure this committee that, if I am confirmed, I will be strictly independent of all political influences… essential to that institution’s ability to function effectively and achieve its mandated objectives.
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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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I don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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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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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.
BEN BERNANKE