Nobody really understands gold prices and I don’t pretend to understand them either.
BEN BERNANKEI’d throw dollars out of helicopters if I had to, to stimulate the economy.
More Ben Bernanke Quotes
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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 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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If Wall Street crashes, does Main Street follow? Not necessarily.
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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.
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
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The Federal Reserve will not monetize the debt.
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A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.
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The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
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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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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
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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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Speaking as somebody who has been happily married for 35 years, I can’t imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.
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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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I don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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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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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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I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.
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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.
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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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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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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
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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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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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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKE