• Society

  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.

  3.7 · 38 votes · 21 reads

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• Society

  I generally leave the details of fiscal programs to the Administration and Congress. That's really their area of authority and responsibility, and I don't think it's appropriate for me to second guess.

  4.7 · 6 votes · 46 reads

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• Society

  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

  3.5 · 34 votes · 152 reads

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• Society

  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.

  4.6 · 17 votes · 79 reads

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• Society

  If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

  3.6 · 18 votes · 114 reads

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• Society

  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.

  3.8 · 61 votes · 76 reads

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• Society

  In fact, the world needs more nerds.

  4.1 · 48 votes · 58 reads

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• Art and Culture

  In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

  4.2 · 6 votes · 170 reads

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• Society

  Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.

  5.0 · 26 votes · 27 reads

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• Society

  Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.

  4.4 · 15 votes · 38 reads

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• Society

  It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

  3.0 · 12 votes · 155 reads

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• Society

  It takes about two and a half percent growth just to keep unemployment stable.

  4.0 · 59 votes · 4 reads

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• Society

  It's the price of success: people start to think you're omnipotent.

  3.6 · 24 votes · 99 reads

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• Government and Politics

  It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

  4.3 · 6 votes · 94 reads

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• Society

  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.

  3.9 · 56 votes · 77 reads

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• Society

  Monetary policy is not a panacea.

  3.2 · 54 votes · 117 reads

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• Society

  Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

  3.8 · 49 votes · 131 reads

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• Society

  The American people are among the most productive in the world. We have the best technologies. We have great universities. We have entrepreneurs.

  4.2 · 36 votes · 157 reads

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• Society

  The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

  3.0 · 9 votes · 62 reads

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• Society

  The central bank needs to be able to make policy without short term political concerns.

  3.9 · 8 votes · 16 reads

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• Society

  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.

  3.6 · 8 votes · 70 reads

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• Countries

  The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer confidence, and pressuring U.S. financial markets and institutions.

  4.3 · 32 votes · 68 reads

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• Society

  The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.

  4.3 · 30 votes · 98 reads

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• Society

  The Fed is totally open.

  3.2 · 6 votes · 26 reads

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  The Federal Reserve can only buy Treasuries and agencies, and moreover quantitative easing typically involves buying longer-term Treasuries and agencies in terms of bills, for example.

  3.1 · 44 votes · 84 reads

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• Society

  The Federal Reserve's job is to do the right thing, to take the long-run interest of the economy to heart, and that sometimes means being unpopular. But we have to do the right thing.

  4.2 · 24 votes · 37 reads

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• Society

  The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

  4.4 · 17 votes · 180 reads

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• Society

  The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

  3.6 · 18 votes · 147 reads

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• Society

  The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.

  3.9 · 61 votes · 64 reads

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• Society

  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.

  4.5 · 13 votes · 55 reads

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• Countries

  Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to many of the largest financial institutions and financial markets.

  4.2 · 22 votes · 65 reads

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What they wrote about

• Economy30 of their quotes
• Crisis6 of their quotes
• America4 of their quotes
• Politics3 of their quotes
• Finance3 of their quotes
• Taxes2 of their quotes