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 A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money. Ben Bernanke helicopters milton cutting 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. Ben Bernanke journey years travel In fact, the world needs more nerds. Ben Bernanke nerd world needs 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. Ben Bernanke strong past years 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. Ben Bernanke typical population generations The GSEs are adequately capitalized. They are in no danger of failing. Ben Bernanke failing danger Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling. Ben Bernanke economy risk struggle I don't fully understand movements in the gold price. Ben Bernanke gold-price movement gold One might as well try to perform brain surgery with a sledgehammer. Ben Bernanke brain trying might 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. Ben Bernanke coffee responsibility years 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. Ben Bernanke support principles business If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment. Ben Bernanke employment focus long The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs. Ben Bernanke entrepreneur technology people The amount of currency in circulation is not changing. The money supply is not changing in any significant way. Ben Bernanke significant currency way The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings. Ben Bernanke benefits fighting bankers The Fed is totally open. Ben Bernanke feds I generally leave the details of fiscal programs to the Administration and Congress. That's really their area of authority and responsibility, and I don't think it's appropriate for me to second guess. Ben Bernanke details responsibility thinking I think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate. Ben Bernanke orthodoxy trying thinking In the future, my communications with the public and with the markets will be entirely through regular and formal channels. Ben Bernanke formal communication I come from Main Street, from a small town that's really depressed. Ben Bernanke main-street small-town towns
