How much would you pay to avoid a second Depression?
BEN BERNANKEIn the future, my communications with the public and with the markets will be entirely through regular and formal channels.
More Ben Bernanke Quotes
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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 more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
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Speaking 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.
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I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.
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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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If Wall Street crashes, does Main Street follow? Not necessarily.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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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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Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.
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It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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One might as well try to perform brain surgery with a sledgehammer.
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I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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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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In a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.
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In fact, the world needs more nerds.
BEN BERNANKE