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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

Ben Bernanke

Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
BEN BERNANKE

Economy Risk Struggle
The central bank needs to be able to make policy without short term political concerns.
BEN BERNANKE

Able Needs Political
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.
BEN BERNANKE

Issues Perspective Running
It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
BEN BERNANKE

Cost Frustrating Raises
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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Kind Success Years
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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Cutting Important Law
[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
BEN BERNANKE

Innovation Long Promise
I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
BEN BERNANKE

Casual Financial Problem Relationship
Developments in financial markets can have broad economic effects felt by many outside the markets.
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Development Economic Financial
Not all information is beneficial.
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Beneficial Information
If your uniform isn’t dirty, you haven’t been in the game.
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Dirty Game Graduation
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
BEN BERNANKE

Bankers Benefit Fighting
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.
BEN BERNANKE

Bankers Crash Economics
I come from Main Street, from a small town that’s really depressed.
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Main Street Small Towns
The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
BEN BERNANKE

Currency Significant Way
It takes about two and a half percent growth just to keep unemployment stable.
BEN BERNANKE

Growth Two Unemployment

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

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Popular Authors

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