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
I do think there is some chance we will see increased private sector savings in the next year or two if housing prices were to moderate.
I don't see any significant risk of a recession.
However, if I am confirmed to this position my first priority will be to maintain continuity with the policies and policy strategies established during the Greenspan years.
However, more recently, there have been signs of some easing of underwriting standards.
I'm... fairly optimistic today about the ability of the U.S. economy to absorb these body blows.
In these circumstances, the FOMC judged that some further firming of monetary policy may be necessary, an assessment with which I concur.
Interest rates are used to achieve overall economic stability.
In the absence of a shift in market perceptions of the relative attractiveness of U.S. and foreign assets, government policies would likely have only limited effects on the trade balance.
In September 2008, the two largest housing mortgage companies called Fannie Mae and Freddie Mac, which were government-sponsored enterprises, which hold hundreds of billions of dollars of mortgages, because of the losses they took on the mortgages, they essentially became insolvent, and the government had to take them over.
In all likelihood, a significant amount of time will be required to restore the nearly eight and a half million jobs that were lost nationwide over 2008 and 2009.
The economy is much more energy efficient today than it was in the 1970s when energy shocks contributed to share slowdowns,
The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.
The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.
The high energy prices are certainly burdening consumer budgets, they are burdening cost structures of firms and certainly continued increases in energy prices are a risk for economic growth going forward.