So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.
BEN BERNANKEIn fact, the world needs more nerds.
More Ben Bernanke Quotes
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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.
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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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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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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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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 don’t see much evidence of an equity bubble.
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The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
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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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In fact, the world needs more nerds.
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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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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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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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