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 Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.
Evolving technologies that allow economists to gather new types of data and to manipulate millions of data points are just one factor among several that are likely to transform the field in coming years.
Equally important, stable prices allow people to rely on the dollar as a measure of value when making long-term contracts, engaging in long-term planning or lending for long periods.
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.
At some point in the future, the committee may decide to take no action at one or more meetings in the interest of allowing more time to receive information relevant to the outlook.
To achieve a more balanced international system over time, countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals.
I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.
There are some petroleum refineries that don't have crude and by allowing them to draw from the Strategic Petroleum Reserve they will be able to produce more gasoline.
Inflation is up, driven by energy prices. Underlying core rates remain low, which is encouraging.
Inflation is not even a remote risk in the U.S.. Because inflation is so low, monetary policy can afford to be patient to be sure that the recovery is sustained.
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.
Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves.
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.
Economic science concerns itself primarily with theoretical and empirical generalizations about the behavior of individuals, institutions, markets, and national economies. Most academic research falls in this category.