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.
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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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.
BEN BERNANKE -
The Federal Reserve is not currently forecasting a recession.
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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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I come from Main Street, from a small town that’s really depressed.
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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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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.
BEN BERNANKE -
I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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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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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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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
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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.
BEN BERNANKE