A Quote by Ben Bernanke
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
Related Quotes
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth.
Inflation is certainly low and stable and, measured in unemployment and labour-market slack, the economy has made a lot of progress. The pace of growth is disappointingly slow, mostly because productivity growth has been very slow, which is not really something amenable to monetary policy. It comes from changes in technology, changes in worker skills and a variety of other things, but not monetary policy, in particular.
Fiscal policy, monetary policy, they need to work together to try and raise the level of growth.
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
My attempt is to try to broaden the base of the Republican Party, to try to bring in people that can agree and that can disagree on that, because I think the issues that we face about terrorism, about our economy, about the growth of our economy are so important that we have to have the biggest outreach possible.
Some periods of our growth are so confusing that we don't even recognize that growth is happening...Those long periods when something inside ourselves seems to be waiting, holding its breath, unsure about what the next step should be, eventually become the periods we wait for, for it is in those periods that we realize that we are being prepared for the next phase of our life and that, in all probability, a new level of the personality is about to be revealed.
You have to let the car do the job and try to trust it, try to understand what you are doing, try to be smooth, and try to be incredibly smart to set the car up, because that is the most important part.
I try to dress smooth, I try to keep my face shaved, I try to keep my head cut. I try to do all the things to keep it smooth going!
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.
You just try and do as much variation and as much difference and as much as possible, so you put yourself out there to try anything, really. As long as you feel you're going to get something out of the experience, it's all worth it.
The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.
I really do try hard to be a good teammate. I can't run very fast, but I try to always run hard. I may strike out a lot, but I try to walk to set up the guys who are hitting after me.
The role of monetary policy is to smooth out business cycles by promoting steady inflation and healthy labor markets, but modern central bankers have taken an activist turn.
I wake up at 7 A. M. every day and try to run at 8 A. M. I run four times a week and I run about three miles typically, so I try to do it first on a Monday.
I didn't have a perfect model, but I wanted to try to blend my own personal reflections and experiences with this broader canvas to see how a lot of the narratives we have about economy and foreign policy got stuck. Because we have these categories of liberal, conservative, free marketer, open government - all these stereotypes about our politics and the categories we try to put things in are inadequate to this sort of complex, ambiguous, sometimes contradictory experience we have as ordinary people and that I have as an elected official.
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