The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
Ben BernankeOur 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 BernankeThe central bank needs to be able to make policy without short term political concerns.
Ben BernankeThe best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
Ben BernankeWeโve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I donโt think itโs going to drive the economy too far from its full employment path, though.
Ben Bernanke