Zitat des Tages von Ben Bernanke:
Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a more sustainable home purchase at some later point.
The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.
Market discipline can only limit moral hazard to the extent that debt and equity holders believe that, in the event of distress, they will bear costs.
Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.
I am particularly pleased to see that the Bendheim Center for Finance is thriving.
I assure this committee that, if I am confirmed, I will be strictly independent of all political influences... essential to that institution's ability to function effectively and achieve its mandated objectives.
Our financial system is so complicated and so interactive - so many different markets in different countries and so many sets of rules.
The actions taken by central banks and other authorities to stabilize a panic in the short run can work against stability in the long run if investors and firms infer from those actions that they will never bear the full consequences of excessive risk-taking.
If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
Community development has a long history of innovation and learning from experience.
Developments in financial markets can have broad economic effects felt by many outside the markets.
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
Preventing liquidation of an unbalanced market will leave you in tears.
In any given month, a large number of workers are being hired or are leaving their current jobs, illustrating the dynamism of the U.S. labor market.
The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.
Monetary policy has less room to maneuver when interest rates are close to zero, while expansionary fiscal policy is likely both more effective and less costly in terms of increased debt burden when interest rates are pinned at low levels.
China is growing very quickly and is clearly becoming an important player in the world economy.
A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
To minimize market uncertainty and achieve the maximum effect of its policies, the Federal Reserve is committed to providing the public as much information as possible about the uses of its balance sheet, plans regarding future uses of its balance sheet, and the criteria on which the relevant decisions are based.
The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.
If bankers become overly conservative in response to past lending mistakes - or if examiners force such behavior - it will hurt bankers' own long-term interests and the economy in general.
The children of the unemployed achieve less in school and appear to have reduced long-term earnings prospects.
The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what,' but it certainly is not the 'why.'
I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.
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.
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.
I come from Main Street, from a small town that's really depressed.
I don't know why there aren't more Depression buffs.
It takes about two and a half percent growth just to keep unemployment stable.
In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
Fostering transparency and accountability at the Federal Reserve was one of my principal objectives when I became Chairman in February 2006.
Banks need to continue to lend to creditworthy borrowers to earn a profit and remain strong.
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
