Ben Bernanke

Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits. ”

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. ”

Evolutionary psychologists suggest that humans experienced evolutionary benefits from brain developments that included aversion to loss and risk and from instincts for cooperation that helped strengthen communities. ”

At the most basic level, a central bank must be clear and open about its actions and operations, particularly when they involve the deployment of public funds. ”

The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it. ”

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers. ”

Obviously, I haven't succeeded in defusing the political concerns about the Fed. ”

My proposal that Fed governors should signal their commitment to public service by wearing Hawaiian shirts and Bermuda shorts has so far gone unheeded. ”

The central bank needs to be able to make policy without short term political concerns. ”

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. ”