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.
BEN BERNANKEThe Federal Reserve will not monetize the debt.
More Ben Bernanke Quotes
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Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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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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I come from Main Street, from a small town that’s really depressed.
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How much would you pay to avoid a second Depression?
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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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Nobody really understands gold prices and I don’t pretend to understand them either.
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I am confident that we will meet whatever challenges the future may bring.
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While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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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.
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The Federal Reserve is not currently forecasting a recession.
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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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It’s the price of success: people start to think you’re omnipotent.
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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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The basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending.
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One might as well try to perform brain surgery with a sledgehammer.
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