“A meritocracy is a system in which the people who are the luckiest in their health and genetic endowment; luckiest in terms of family support, encouragement and, probably, income; luckiest in their educational and career opportunities; and luckiest in so many other ways difficult to enumerate - these are the folks who reap the largest rewards.” PeopleWayOpportunityDifficultTermCareersSupportEncouragementRewardsFolksEducationalIncomeReapEndowmentMeritocracyFamily SupportCareer OpportunitiesNatural Endowment Author:Ben Bernanke
“[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.” IfsMayLongTermPromiseInnovationSecureFasterLong TermEfficientCurrencyPayment Author:Ben Bernanke
“Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.” LongImportantTermInterestEconomyAchieveRateObjectivesEmploymentLong TermStabilityReservesModeratesMaximumMandatesFederal ReserveInterest RatePrice Stability Author:Ben Bernanke
“If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.” IfsLongTermFocusEconomicPolicyProsperityEmploymentLong TermContributionStabilityCommitteesColleaguesMaximumMonetaryMonetary PolicyEconomic ProsperityPrice Stability Author:Ben Bernanke
“Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.” GovernmentTodayValuesWishTermNumbersTechnologyProduceCostGoldPressesDollarsGoodsThreateningPrintingCirculationPrinting PressGoods And Services Author:Ben Bernanke
“The central bank needs to be able to make policy without short term political concerns.” NeedsAblePoliticalTermPolicyConcernShort TermCentral Banks Author:Ben Bernanke
