The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
BEN BERNANKEI don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
More Ben Bernanke Quotes
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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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So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.
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It’s the price of success: people start to think you’re omnipotent.
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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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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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Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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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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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 don’t fully understand movements in the gold price.
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The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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If your uniform isn’t dirty, you haven’t been in the game.
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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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