Ben Bernanke
[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.Collection: Long
The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.Collection: Risk
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.Collection: Wall
The GSEs are adequately capitalized. They are in no danger of failing.Collection: Failing
The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.Collection: Technology
If current trends continue, the typical U.S. worker will be considerably more productive several decades from now. Thus, one might argue that letting future generations bear the burden of population aging is appropriate, as they will likely be richer than we are even taking that burden into account.Collection: Typical
Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices...We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk.Collection: Strong
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.Collection: Running
I don't fully understand movements in the gold price.Collection: Gold
Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.Collection: Cutting
If Wall Street crashes, does Main Street follow? Not necessarily.Collection: Wall
If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.Collection: Chinese
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.Collection: Thinking
The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.Collection: Past
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 demandCollection: Running
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.Collection: Travel
Inflation is certainly low and stable and, measured in unemployment and labour-market slack, the economy has made a lot of progress. The pace of growth is disappointingly slow, mostly because productivity growth has been very slow, which is not really something amenable to monetary policy. It comes from changes in technology, changes in worker skills and a variety of other things, but not monetary policy, in particular.Collection: Technology
We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.Collection: Financial
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.Collection: Thinking
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.Collection: Safety
While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.Collection: Years
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.Collection: Financial
Nobody really understands gold prices and I don't pretend to understand them either.Collection: Gold
September and October of 2008 was the worst financial crisis in global history, including the Great Depression.Collection: October
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.Collection: Bankers
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.Collection: Cutting
Education - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.Collection: Education
Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.Collection: Struggle
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.Collection: Europe
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.Collection: Risk
Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.Collection: Humanity
Not all information is beneficial.Collection: Information
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.Collection: Strong
Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.Collection: Banking
A meritocracy is a system in which the people who are the luckiest in their health and genetic endowment; luckiest in terms of family support, encouragement and, probably, income; luckiest in their educational and career opportunities; and luckiest in so many other ways difficult to enumerate - these are the folks who reap the largest rewards.Collection: Encouragement
The basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending, in a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.Collection: Business
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.Collection: Success
I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.Collection: Country
One might as well try to perform brain surgery with a sledgehammer.Collection: Brain
I am confident that we will meet whatever challenges the future may bring.Collection: Challenges
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.Collection: Moving
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. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.Collection: Change
...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goalsCollection: Goal
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.Collection: Adversity
I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.Collection: Country
Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. economy. 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.Collection: Strong