September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
BEN BERNANKEIt’s the price of success: people start to think you’re omnipotent.
More Ben Bernanke Quotes
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I am very proud of my nerd-dom.
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In fact, the world needs more nerds.
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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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I don’t fully understand movements in the gold price.
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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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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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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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The Federal Reserve is not currently forecasting a recession.
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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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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.
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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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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 crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
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How much would you pay to avoid a second Depression?
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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