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In fact, the world needs more nerds.

Ben Bernanke

September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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Financial October September
Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
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Economy Risk Struggle
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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Economy Expanding Financial
A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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Cutting Helicopters Milton
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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Depression Earthquake Want
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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Fundamental Past Strong Years
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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Dirty Essential Games
The GSEs are adequately capitalized. They are in no danger of failing.
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Capitalized Danger Failing
Not all information is beneficial.
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Beneficial Information
I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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Dollars Economy Helicopters
Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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Employment Important Long
It takes about two and a half percent growth just to keep unemployment stable.
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Growth Two Unemployment
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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Business Principle Support
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.
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Growth Home Jobs
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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Employment Financial Growth
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.
BEN BERNANKE

Casual Financial Problem Relationship

In fact, the world needs more nerds.

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In fact, the world needs more nerds.

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