The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
War is an ugly thing, but not the ugliest of things: the decayed and degraded state of moral and patriotic feeling which thinks that nothing is worth a war, is much worse. When a people are used as mere human instruments for firing cannon or...
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John Stuart Mill
I like ducks." Jem observed diplomatically. "Esspecially the ones in Hyde Park." He glanced side ways at Will; both boys were sitting at the edge of a high table, thier legs dangling over the side. "Remember when you tried to convince me to feed pultry...
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Cassandra Clare
Tessa: I won't know if I like it until I try it, will I?"Will: "I've never swum naked in the Thames, but I know I wouldn't like it."" But think how entertaining for sightseers, " said Tessa, and she saw Jem duck his head to...
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Cassandra Clare
It is a self-deception of philosophers and moralists to imagine that they escape decadence by opposing it. That is beyond their will; and, however little they acknowledge it, one later discovers that they were among the most powerful promoters of decadence.
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Friedrich Nietzsche
The most perfect and satisfactory knowledge is that of perception but this is limited to the absolutely particular, to the individual. The comprehension of the many and the various into *one* representation is possible only through the *concept*, in other words, by omitting the differences;...
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Arthur Schopenhauer
More Quotes By Ben Bernanke
In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.
In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.
The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis substantial fiscal resources were necessary.
Clear communication is always important in central banking, but it can be especially important when economic conditions call for further policy stimulus but the policy rate is already at its effective lower bound.
