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. Ben Bernanke backbadlychance Change image and share on social
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.' Ben Bernanke allocationdefinitiondescribe Change image and share on social
Deflation is defined as a general decline in prices, with emphasis on the word 'general.' Ben Bernanke declinedefinedeflation Change image and share on social
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. Ben Bernanke americancongresscritical share on social
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. Ben Bernanke academicbehaviorcategory share on social
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities. Ben Bernanke activitybankbankrupt Change image and share on social
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. Ben Bernanke businesscrisisdecline share on social
Fostering transparency and accountability at the Federal Reserve was one of my principal objectives when I became Chairman in February 2006. Ben Bernanke accountabilitychairmanfebruary Change image and share on social
Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable. Ben Bernanke borrowerdealeconomy share on social
Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable. Ben Bernanke agreementareacontroversy Change image and share on social