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 most recent evidence ... suggests that the economic expansion remains on track.
Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.
After several false starts, the economy is showing signs of sustained recovery,
a forecast about the future evolution of policy, not an unconditional commitment.
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.
After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.
I think at this point in time that the inverted yield curve is not signaling a slowdown.
I think there's a good chance we'll dodge the bullet this time.
I see inflation as remaining well-contained going forward.
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.
I will make continuity with the policies and policy strategies of the Greenspan Fed a top priority,
I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment,
Under constrained discretion, the central bank is free to do its best to stabilize output and employment in the face of short-run disturbances, with the appropriate caution born of our imperfect knowledge of the economy and of the effects of policy (this is the 'discretion' part of constrained discretion),
Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.