I assure this committee that, if I am confirmed, I will be strictly independent of all political influences… essential to that institution’s ability to function effectively and achieve its mandated objectives.
BEN BERNANKEIndeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
More Ben Bernanke Quotes
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It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions
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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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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.
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The Federal Reserve is not currently forecasting a recession.
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The central bank needs to be able to make policy without short term political concerns.
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It takes about two and a half percent growth just to keep unemployment stable.
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It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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I don’t fully understand movements in the gold price.
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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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The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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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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The Fed is totally open.
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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.
BEN BERNANKE