American - Public | December 13, 1953 -
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
Ben Bernanke
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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.
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For many of us, owning a home signaled a passage into adulthood that coincided with the start of a career and family.
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Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.
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It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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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.
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Remember that physical beauty is evolution's way of assuring us that the other person doesn't have too many intestinal parasites.
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I was a professor at Princeton University. And, in that capacity, I studied for many years the role of financial crisis in the economy.
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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.
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If two people always agree, one of them is redundant.
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The Federal Reserve cannot solve all the economy's problems on its own.
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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.
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