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 BERNANKEIf 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.
More Ben Bernanke Quotes
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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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Nobody really understands gold prices and I don’t pretend to understand them either.
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The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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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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Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
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The Federal Reserve will not monetize the debt.
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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
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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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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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I am confident that we will meet whatever challenges the future may bring.
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House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
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How much would you pay to avoid a second Depression?
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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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I am very proud of my nerd-dom.
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If your uniform isn’t dirty, you haven’t been in the game.
BEN BERNANKE