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" History has demonstrated time and again the inherent resilience and recuperative powers of the American economy. "
Ben Bernanke
Resilience
American
Time
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" All the Federal Reserve can do is make loans against collateral. "
Ben Bernanke
Against
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Make
" Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions. "
Ben Bernanke
Financial
Time
Real
" I got into economics because I wanted to make things better for the average person. "
Ben Bernanke
Economics
Average
Better
" 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. "
Ben Bernanke
Housing
September
Two
" In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement. "
Ben Bernanke
Science
Education
Business
" In fact, the world needs more nerds. "
Ben Bernanke
Needs
Nerds
World
" If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression. "
Ben Bernanke
You
Study
Understand
" Identity theft is a serious crime that affects millions of Americans each year. "
Ben Bernanke
Identity
Crime
Year
" Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933. "
Ben Bernanke
Great
Depression
Result
" The biggest downside of my current job is that I have to wear a suit to work. Wearing uncomfortable clothes on purpose is an example of what former Princeton hockey player and Nobel Prize winner Michael Spence taught economists to call 'signaling.' "
Ben Bernanke
Winner
Purpose
Job
" As an educator myself, I understand the profound effect that good teachers and a quality education have on the lives of our young people. "
Ben Bernanke
People
Good
Education
" Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable. "
Ben Bernanke
Agreement
Where
Economics
" It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting. "
Ben Bernanke
Cost
Work
Commuting
" Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes. "
Ben Bernanke
Financial
Education
Planning
" Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates. "
Ben Bernanke
Price
Important
Achieving
" I think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate. "
Ben Bernanke
Need
You
Think
" If you take a candy bar in the short run, it gives you a burst of energy, but after a while, it just makes you fat. "
Ben Bernanke
Short
Energy
Candy
" Neighborhoods and communities are complex organisms that will be resilient only if they are healthy along a number of interrelated dimensions, much as a human body cannot be healthy without adequate air, water, rest, and food. "
Ben Bernanke
Healthy
Water
Air
" The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being. "
Ben Bernanke
Purpose
Understand
Ultimate
" Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank. "
Ben Bernanke
Financial
Risks
Planning
" The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes. "
Ben Bernanke
Financial
Summer
Event
" The best solution to income inequality is providing a high-quality education for everybody. In our highly technological, globalized economy, people without education will not be able to improve their economic situation. "
Ben Bernanke
Will
People
Best
" Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves. "
Ben Bernanke
People
Things
Society
" No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change. "
Ben Bernanke
Age
Succeed
Change