“September and October of 2008 was the worst financial crisis in global history, including the Great Depression.” WorstCrisisIncludingFinancialSeptemberOctoberGreat DepressionFinancial Crisis Author:Ben Bernanke
“The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.” ActingEconomyEuropeCrisisInstitutionsFinancialConsumersAffectedDragWeighingFinancial MarketsConsumer Confidence Author:Ben Bernanke
“The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.” LongEconomicLessonsCrisisFinancialRecoveryFinancial SystemEconomic Recovery Author:Ben Bernanke
“Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.” ResultsCrisisFinancialDespitePassiveReservesSevereMandatesGreat Depression1930sFederal ReserveFinancial Crisis Author:Ben Bernanke
“The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.” HomeJobsValuesGrowthInterestEconomicEventsLowsCrisisRateDestroyedDeclineEconomic GrowthRecessionsInterest RateMany Homes Author:Ben Bernanke
“The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.” SeemsBehindsEconomyCrisisFinancialExpandingFinancial Crisis Author:Ben Bernanke
“I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.” ProblemWould BeDifficultCrisisComplexesFinancialBroadsMistakenHousingFinancial System Author:Ben Bernanke
