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.
BEN BERNANKEThe risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
More Ben Bernanke Quotes
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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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We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
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The Fed is totally open.
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The Federal Reserve is not currently forecasting a recession.
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Nobody really understands gold prices and I don’t pretend to understand them either.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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I don’t fully understand movements in the gold price.
BEN BERNANKE -
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.
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I come from Main Street, from a small town that’s really depressed.
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The central bank needs to be able to make policy without short term political concerns.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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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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The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
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In a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.
BEN BERNANKE