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
Certainly there is no way to direct the effects of monetary policy at a single class of assets while leaving other financial markets and the broader economy untouched. One might as well try to perform brain surgery with a sledgehammer.
Although the U.S. economy has managed modest real growth through 2002 and into 2003, most economists agree that a strong and well-balanced recovery will require a greater contribution from the business sector, in the form of increased capital investment and hiring,
A further jump in energy prices or a more pronounced reaction to those increases in prices that have already occurred could test the strength of the expansion,
The inflation objective is explicitly a long-term or medium term objective. It focuses on, for example, core inflation to avoid getting involved in short-term fluctuations in energy prices and the like.
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street.
The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
Even if the economy recovers smartly for the rest of this year and the next, the ongoing slack in the economy may still lead to continuing disinflation,
People saw the Depression as a necessary thing - a chance to squeeze out the excesses, get back to Puritan morality. That just made things worse.
Providing quantitative guidance about the meaning of 'long-term price stability' could have several advantages, including further reducing public uncertainty about monetary policy and anchoring long-term inflation expectations even more effectively,
One may aspire to succeed Chairman Greenspan but it will not be possible to replace him,
Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
Congress had made clear that it has affirmed the principle of keeping banking and commerce separate. This loophole ... circumvents that principle. If Congress wants to revisit banking and commerce, that's their prerogative but it doesn't seem a good approach to allow a loophole in which that distinction breaks down.
The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.
Many savers are also homeowners; indeed, a family's home may be its most important financial asset. Many savers are working, or would like to be.