Every 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 BernankeI think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate.
Ben BernankeIt's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
Ben BernankeThe people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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