A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
BEN BERNANKEHouse prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
More Ben Bernanke Quotes
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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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The Fed is totally open.
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The Federal Reserve is not currently forecasting a recession.
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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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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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Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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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
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…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
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It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions
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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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If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy’s greatest contribution to general economic prosperity and maximum employment.
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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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I come from Main Street, from a small town that’s really depressed.
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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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