Quotes of All Topics . Occasions . Authors
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
No one will lend at a negative interest rate; potential creditors will simply choose to hold cash, which pays zero nominal interest.
Banks will have to win the confidence of their customers through fair dealing, making good loans, and remaining financially healthy.
Our financial system is so complicated and so interactive - so many different markets in different countries and so many sets of rules.
I was a professor at Princeton University. And, in that capacity, I studied for many years the role of financial crisis in the economy.
Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.
In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
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.
While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
As an educator myself, I understand the profound effect that good teachers and a quality education have on the lives of our young people.
Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn't dirty, you haven't been in the game.
Honest error in the face of complex and possibly intractable problems is a far more important source of bad results than are bad motives.
Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.
Fostering transparency and accountability at the Federal Reserve was one of my principal objectives when I became Chairman in February 2006.
Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.
The American people are among the most productive in the world. We have the best technologies. We have great universities. We have entrepreneurs.
People saw the Depression as a necessary thing - a chance to squeeze out the excesses, get back to Puritan morality. That just made things worse.
[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
Many savers are also homeowners; indeed, a family's home may be its most important financial asset. Many savers are working, or would like to be.
In the tradition of national income accounting, economic policymakers have typically focused on variables such as income, wealth, and consumption.
The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.
The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.
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 movement toward a holistic approach to community development has been long in the making, but the housing crisis has motivated further progress.
Central bankers got it right in the United States in 1987 when they avoided deflationary pressures as well as serious trouble in the banking system.
Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
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.
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.'
History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
Growth in U.S. real imports slowed to about 3 percent in 2006, in part reflecting a drop in real terms in imports of crude oil and petroleum products.
My proposal that Fed governors should signal their commitment to public service by wearing Hawaiian shirts and Bermuda shorts has so far gone unheeded.
Now that I'm a civilian again, I can once more comment on economic and financial issues without my words being put under the microscope by Fed watchers.
Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves.
I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.
Well, optimism's a good thing. It - makes people go out and - you know, start businesses and spend and do whatever is necessary to get the economy going.
In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.
It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions
I've never been on Wall Street. And I care about Wall Street for one reason and one reason only because what happens on Wall Street matters to Main Street.
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.
The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.
At the most basic level, a central bank must be clear and open about its actions and operations, particularly when they involve the deployment of public funds.
The role of liquidity in systemic events provides yet another reason why, in the future, a more system wide or macroprudential approach to regulation is needed.
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.
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
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.
After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
High levels of homeownership have been shown to foster greater involvement in school and civic organizations, higher graduation rates, and greater neighborhood stability.
The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.