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Ben Bernanke quotes

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

It's the price of success: people start to think you're omnipotent.

Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

How much would you pay to avoid a second Depression?

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.

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.

The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer confidence, and pressuring U.S. financial markets and institutions.

The Federal Reserve's job is to do the right thing, to take the long-run interest of the economy to heart, and that sometimes means being unpopular. But we have to do the right thing.

Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to many of the largest financial institutions and financial markets.

If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

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.

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.

Developments in financial markets can have broad economic effects felt by many outside the markets.

I am very proud of my nerd-dom.

I come from Main Street, from a small town that's really depressed.

In fact, the world needs more nerds.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

It takes about two and a half percent growth just to keep unemployment stable.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.