So far, the effects appear to be relatively modest on growth.
More Quotes from Ben Bernanke:
There is a deficit I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination.Ben Bernanke
Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee (FOMC) would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step,
Ben Bernanke
Roger made invaluable contributions to the Federal Reserve and to the country.
Ben Bernanke
This step would in no way reduce the importance of maximum employment as a policy goal, ... In any case, I assure this committee that if I am confirmed, I will take no precipitate steps in the direction of quantifying the definition of long-run price stability. This matter requires further study at the Federal Reserve as well as extensive discussion and consultation.
Ben Bernanke
Providing quantitative guidance about the meaning of 'long-term price stability' could have several advantages, including further reducing public uncertainty about monetary policy and anchoring long-term inflation expectations even more effectively,
Ben Bernanke
If I am confirmed, I will be strictly independent of all political influences and will be guided solely by the Federal Reserve's mandate from Congress and by the public interest,
Ben Bernanke
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If we were to wake up some morning and find that everyone was the same race, creed and color, we would find some other causes for prejudice by noon.George Aiken
I write in order to attain that feeling of tension relieved and function achieved which a cow enjoys on giving milk.
H. L. Mencken