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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

Ben Bernanke

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.
BEN BERNANKE

Banking Ratio Serious
I come from Main Street, from a small town that’s really depressed.
BEN BERNANKE

Main Street Small Towns
The GSEs are adequately capitalized. They are in no danger of failing.
BEN BERNANKE

Capitalized Danger Failing
Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
BEN BERNANKE

Economy Risk Struggle
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKE

Depression Earthquake Want
I assure this committee that, if I am confirmed, I will be strictly independent of all political influences… essential to that institution’s ability to function effectively and achieve its mandated objectives.
BEN BERNANKE

Essentials Independent Political
In a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.
BEN BERNANKE

Best Economic Inflation Resources Way
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

Growth Home Jobs
I don’t fully understand movements in the gold price.
BEN BERNANKE

Gold Movement Price
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.
BEN BERNANKE

Committee Country Moving
Developments in financial markets can have broad economic effects felt by many outside the markets.
BEN BERNANKE

Development Economic Financial
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
BEN BERNANKE

Banking Banks Commercial Investment
I don’t see much evidence of an equity bubble.
BEN BERNANKE

Bubbles Equity Evidence
It’s the price of success: people start to think you’re omnipotent.
BEN BERNANKE

People Price Success Thinking
One might as well try to perform brain surgery with a sledgehammer.
BEN BERNANKE

Brain might Trying
The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
BEN BERNANKE

Months Past Risk

If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

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Popular Authors

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