If 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.
BEN BERNANKEThe amount of currency in circulation is not changing. The money supply is not changing in any significant way.
More Ben Bernanke Quotes
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If Wall Street crashes, does Main Street follow? Not necessarily.
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Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
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The Federal Reserve is not currently forecasting a recession.
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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
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In fact, the world needs more nerds.
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It takes about two and a half percent growth just to keep unemployment stable.
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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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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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…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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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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The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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It’s the price of success: people start to think you’re omnipotent.
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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I don’t see much evidence of an equity bubble.
BEN BERNANKE