If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
BEN BERNANKEThe crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
More Ben Bernanke Quotes
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The Fed is totally open.
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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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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 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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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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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
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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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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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I am confident that we will meet whatever challenges the future may bring.
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I am very proud of my nerd-dom.
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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
BEN BERNANKE







