…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
BEN BERNANKEIf you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
More Ben Bernanke Quotes
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Developments in financial markets can have broad economic effects felt by many outside the markets.
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The basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending.
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The Federal Reserve is not currently forecasting a recession.
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I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
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I am very proud of my nerd-dom.
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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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Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.
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One might as well try to perform brain surgery with a sledgehammer.
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Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.
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I don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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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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While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
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The GSEs are adequately capitalized. They are in no danger of failing.
BEN BERNANKE