Ben Bernanke
Ben Bernanke
Ben Shalom Bernankeis an American economist at the Brookings Institution who served two terms as chairman of the Federal Reserve, the central bank of the United States, from 2006 to 2014. During his tenure as chairman, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis. Before becoming Federal Reserve chairman, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave...
NationalityAmerican
ProfessionPolitician
Date of Birth13 December 1953
CityAugusta, GA
CountryUnited States of America
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.
The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
Not all information is beneficial.
There are various estimates about the third quarter impact, ... Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter.
There are various estimates about the third quarter impact. Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter.
Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.
There is enormous demand for dollar denominated assets so I don't expect that this demand would drop precipitously.
We benefit from foreign direct investment. Many Americans are employed by foreign companies with plants in the United States, for example in the automobile industry. So, trade is a two way street. I think, it is important to protect Americans who lose their jobs, or whose jobs come under pressure from international trade. But, I think, we need to be careful not to embrace economic isolationism.
There are some petroleum refineries that don't have crude and by allowing them to draw from the Strategic Petroleum Reserve they will be able to produce more gasoline.
High levels of homeownership have been shown to foster greater involvement in school and civic organizations, higher graduation rates, and greater neighborhood stability.
When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve... mustered the moral courage to do what was necessary.
The Federal Reserve has never suffered any losses in the course of its normal lending to banks and, now, to primary dealers.
The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem.
All the Federal Reserve can do is make loans against collateral.