If your uniform isn’t dirty, you haven’t been in the game.
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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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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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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The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
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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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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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The Federal Reserve is not currently forecasting a recession.
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In fact, the world needs more nerds.
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Economics is a very difficult subject. I’ve compared it to trying to learn how to repair a car when the engine is running.
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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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I am very proud of my nerd-dom.
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The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
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The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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I don’t fully understand movements in the gold price.
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