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
The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.
According to government ethics rules ... it is permissible for a retired (Fed) governor to speak in public about the economy so long as he or she does not divulge confidential information. I have no indication that he has violated that rule.
According to government ethics rules and FOMC rules, it is permissible for a retired governor to speak in public about the economy, so long as he or she does not divulge confidential information. I have no indication that he has violated that rule.
Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions.
My proposal that Fed governors should signal their commitment to public service by wearing Hawaiian shirts and Bermuda shorts has so far gone unheeded.
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.
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,
There's no magical relationship between inverted yield curves and recession. There's a debate why long-term rates are so low. It's partly a low term premium and a lot of saving looking for a relatively limited number of investments.
It's been a resilient economy, it's responded well and job creation has proceeded apace.
I think it's generally a bad idea for the Fed to be the arbiter of asset prices. The Fed doesn't really have any better information than other people in the market about what the correct value of asset prices is.
Interest rates are used to achieve overall economic stability.
Roger made invaluable contributions to the Federal Reserve and to the country.
These are issues that we are going to have to address, because they are significant.
Indeed, I would argue that, in situations of considerable slack, growth that is generated solely by increased productivity, and that is unaccompanied by substantial employment growth, may possibly require monetary ease, rather than monetary tightening, in the short run.