Ben Bernanke

Economic engineering is about the design and analysis of frameworks for achieving specific economic objectives.

Economic science concerns itself primarily with theoretical and empirical generalizations about the behavior of individuals, institutions, markets, and national economies. Most academic research falls in this category.

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

Now that I'm a civilian again, I can once more comment on economic and financial issues without my words being put under the microscope by Fed watchers.

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.

The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.

Of course, economic forecasts must be revised when new information arrives and are thus necessarily provisional.

Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.

I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.

If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.

Monetary policy is not a panacea.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.