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
Ben BernankeImportantly, 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 BernankeIt 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