Bernanke on the Record
ON THE JOBLESS RECOVERY: "Although other explanations for the jobless recovery--overstaffing in the boom, benefits costs, uncertainty, and structural change--have played a role, in my view the productivity explanation is, quantitatively, probably the most important." (11/6/2003)
ON INFLATION: "Inflation appears subdued and likely to remain so." (11/6/2003)
ON INTEREST RATES: "It appears that monetary policy can remain accommodative, supporting the economic recovery and the recovery of the labor market, without endangering price stability." (11/6/2003)
ON SETTING INFLATION TARGETS: "An incremental move toward inflation targeting, in the form of the announcement of a long-run inflation objective, might help the Fed communicate better and perhaps improve policy decisions as well." (10/17/2003)
ON STOCK MARKET BUBBLES: "The Fed should not be in the business of trying to prick stock market bubbles." (11/3/2003)
ON ECONOMIST MILTON FRIEDMAN: "He's probably the greatest economist of the 20th century." (11/3/2003)
ON DEFLATION: "Prevention of deflation is preferable to cure." (11/21/2002)
This story appears in the December 29, 2003 print edition of U.S. News & World Report.