[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
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 Fed is totally open.
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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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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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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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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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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
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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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Nobody really understands gold prices and I don’t pretend to understand them either.
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The central bank needs to be able to make policy without short term political concerns.
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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.
BEN BERNANKE