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.
BEN BERNANKE…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
More Ben Bernanke Quotes
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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 people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.
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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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I am confident that we will meet whatever challenges the future may bring.
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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.
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One might as well try to perform brain surgery with a sledgehammer.
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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.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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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.
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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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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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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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Not all information is beneficial.
BEN BERNANKE