It's the price of success: people start to think you're omnipotent. Ben Bernanke More Quotes by Ben Bernanke More Quotes From Ben Bernanke 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. Ben Bernanke employment house thinking If your uniform isn't dirty, you haven't been in the game. Ben Bernanke games graduation dirty I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically. Ben Bernanke risk country thinking It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles. Ben Bernanke circles political pressure 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. Ben Bernanke progress growth technology 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 Bernanke employment financial growth We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system. Ben Bernanke significant economy financial 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. Ben Bernanke goal retirement jobs The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so. Ben Bernanke risk months past 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 crash economics bankers While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S. Ben Bernanke delinquency rising years I am confident that we will meet whatever challenges the future may bring. Ben Bernanke challenges may The 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. Ben Bernanke growth home jobs It takes about two and a half percent growth just to keep unemployment stable. Ben Bernanke unemployment growth two 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. Ben Bernanke ongoing cutting order 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. Ben Bernanke kind success years 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. Ben Bernanke imagination years thinking It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting. Ben Bernanke frustrating raises cost 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. Ben Bernanke ratios banking serious I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict. Ben Bernanke financial problem would-be
