Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.
Ben BernankeEvery effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
Ben BernankeUnder current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.
Ben BernankeThe amount of currency in circulation is not changing. The money supply is not changing in any significant way.
Ben Bernanke