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 BERNANKEOver the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
More Ben Bernanke Quotes
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With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.
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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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Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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The Fed is totally open.
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The Federal Reserve will not monetize the debt.
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I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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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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If your uniform isn’t dirty, you haven’t been in the game.
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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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[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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It takes about two and a half percent growth just to keep unemployment stable.
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How much would you pay to avoid a second Depression?
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I am confident that we will meet whatever challenges the future may bring.
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The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
BEN BERNANKE