Author

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

From Ben Bernanke

If bankers become overly conservative in response to past lending mistakes - or if examiners force such behavior - it will hurt bankers' own long-term interests and the economy in general.

From Ben Bernanke

Banks need to continue to lend to creditworthy borrowers to earn a profit and remain strong.

From Ben Bernanke

Following an extended boom in housing, the demand for homes began to weaken in mid-2005. By the middle of 2006, sales of both new and existing homes had fallen about 15 percent below their peak levels. Homebuilders responded to the fall in demand by sharply curtailing construction.

From Ben Bernanke

Growth in U.S. real imports slowed to about 3 percent in 2006, in part reflecting a drop in real terms in imports of crude oil and petroleum products.

From Ben Bernanke

Rents should begin to decelerate as the demand for owner-occupied housing stabilizes and the supply of rental units increases.

From Ben Bernanke

To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.

From Ben Bernanke

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

From Ben Bernanke

Deflation is defined as a general decline in prices, with emphasis on the word 'general.'

From Ben Bernanke

Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.

From Ben Bernanke

Ben Bernanke

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