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
Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.
As we look ahead, core inflation appears likely to remain in the zone of price stability during the remainder of 2004 and into 2005,
I will make continuity with the policies and policy strategies of the Greenspan Fed a top priority,
If I am confirmed by the Senate I will do everything in my power, in collaboration with by Fed colleagues to help assure the continued prosperity and stability of the American economy,
has set the standard for excellence in economic policy-making.
He lived with us for 24 years, ... He studied with us.
The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.
I think policy is currently quite accommodative. I think it can remain quite accommodative for a while to come,
Market discipline can only limit moral hazard to the extent that debt and equity holders believe that, in the event of distress, they will bear costs.
Our financial system is so complicated and so interactive - so many different markets in different countries and so many sets of rules.
In the shorter term, the devastation wrought by Hurricane Katrina will have a palpable effect on the national economy.
So far, the actual actions taken have been relatively modest, but there is some hope, I think, that, going forward, these actions will advance further and we will see more progress in the current account.
Because a person has to be either working or looking for work to be counted as part of the labor force, an increase in the number of people too discouraged to continue their search for work would reduce the unemployment rate, all else being equal - but not for a positive reason.