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.
BEN BERNANKEOne might as well try to perform brain surgery with a sledgehammer.
More Ben Bernanke Quotes
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The Federal Reserve will not monetize the debt.
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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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If Wall Street crashes, does Main Street follow? Not necessarily.
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The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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The Fed is totally open.
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Nobody really understands gold prices and I don’t pretend to understand them either.
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Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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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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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
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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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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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I am very proud of my nerd-dom.
BEN BERNANKE