Ben Bernanke Quotes

Ben Shalom Bernanke is an American economist at the Brookings Institution who served two terms as Chair of the Federal Reserve, the central bank of the United States, from 2006 to 2014. During his tenure as chair, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis.

Before becoming Federal Reserve chair, 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.

From August 5, 2002 until June 21, 2005, he was a member of the Board of Governors of the Federal Reserve System, proposed the Bernanke Doctrine, and first discussed "the Great Moderation" — the theory that traditional business cycles have declined in volatility in recent decades through structural changes that have occurred in the international economy, particularly increases in the economic stability of developing nations, diminishing the influence of macroeconomic policy.

Bernanke then served as chairman of President George W. Bush's Council of Economic Advisers before President Bush nominated him to succeed Alan Greenspan as chairman of the United States Federal Reserve. His first term began February 1, 2006. Bernanke was confirmed for a second term as chairman on January 28, 2010, after being renominated by President Barack Obama, who later referred to him as "the epitome of calm." His second term ended January 31, 2014, when he was succeeded by Janet Yellen on February 3, 2014.

Bernanke wrote about his time as chairman of the Federal Reserve in his 2015 book, The Courage to Act, in which he revealed that the world's economy came close to collapse in 2007 and 2008. Bernanke asserts that it was only the novel efforts of the Fed that prevented an economic catastrophe greater than the Great Depression.



Wikipedia  

✵ 13. December 1953
Ben Bernanke photo
Ben Bernanke: 10   quotes 0   likes

Famous Ben Bernanke Quotes

“To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.”

Speech given on Apr. 7, 2010 to the Dallas Regional Chamber of Commerce, "Economic Challenges: Past, Present and Future" http://www.federalreserve.gov/newsevents/speech/bernanke20100407a.pdf. (See pages 13-14 of the speech transcript).

Ben Bernanke Quotes

“Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.”

"Remarks by Governor Ben S. Bernanke at the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois," http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021108/default.htm federalreserve.gov (2002-11-08)
Commenting to Milton Friedman's public statement that the Great Depression was caused by the Federal Reserve Bank

Similar authors

Thomas J. Sargent photo
Thomas J. Sargent 10
American economist
Paul A. Samuelson photo
Paul A. Samuelson 47
American economist
Theodore Schultz photo
Theodore Schultz 15
American economist
Douglass C. North photo
Douglass C. North 18
American Economist
Paul Krugman photo
Paul Krugman 106
American economist
Jan Tinbergen photo
Jan Tinbergen 21
Dutch economist
John Maynard Keynes photo
John Maynard Keynes 122
British economist
Kenneth Arrow photo
Kenneth Arrow 37
American economist
Wassily Leontief photo
Wassily Leontief 10
Russian economist
James Tobin photo
James Tobin 22
American economist