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.
BEN BERNANKEIt takes about two and a half percent growth just to keep unemployment stable.
More Ben Bernanke Quotes
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I don’t fully understand movements in the gold price.
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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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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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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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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.
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Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
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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 not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.
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I am confident that we will meet whatever challenges the future may bring.
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We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
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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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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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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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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.
BEN BERNANKE