The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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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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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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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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Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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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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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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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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I come from Main Street, from a small town that’s really depressed.
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
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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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The GSEs are adequately capitalized. They are in no danger of failing.
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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
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If your uniform isn’t dirty, you haven’t been in the game.
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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
BEN BERNANKE