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 BERNANKEA gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
More Ben Bernanke Quotes
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A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
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Nobody really understands gold prices and I don’t pretend to understand them either.
BEN BERNANKE -
The Federal Reserve is not currently forecasting a recession.
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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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Economics is a very difficult subject. I’ve compared it to trying to learn how to repair a car when the engine is running.
BEN BERNANKE -
The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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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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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 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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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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Developments in financial markets can have broad economic effects felt by many outside the markets.
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In fact, the world needs more nerds.
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I don’t see much evidence of an equity bubble.
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The Federal Reserve will not monetize the debt.
BEN BERNANKE -
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.
BEN BERNANKE