--- title: "17 Financial Quotes By Ben Bernanke" description: "17 Financial quotes by Ben Bernanke. Plus more from Ben Bernanke and more Financial sayings from other authors." image: "https://sms4smile.com/quotes/i/135/ben-bernanke-1388_crisis_the-lesson-of-history-is-that-you-do-not_1245902.png" --- > [The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in…](https://sms4smile.com/quotes/ben-bernanke/the-lesson-of-history-is-that-you-do-not-get-a-sustained-economic/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/135/ben-bernanke-1388_crisis_the-lesson-of-history-is-that-you-do-not_1245902.png) > [Developments in financial markets can have broad economic effects felt by many outside the markets.](https://sms4smile.com/quotes/ben-bernanke/developments-in-financial-markets-can-have-broad-economic-effects/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/f16/ben-bernanke-1388_broads_developments-in-financial-markets-can-ha_1070442.png) > [Different countries have different kinds of financial structures.](https://sms4smile.com/quotes/ben-bernanke/different-countries-have-different-kinds-of-financial-structures/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/fc6/ben-bernanke-1388_different-countries_different-countries-have-different-kinds_2680990.png) > [One would be forgiven for concluding that the assumed benefits of financial innovation are not all they were cracked up to be.](https://sms4smile.com/quotes/ben-bernanke/one-would-be-forgiven-for-concluding-that-the-assumed-benefits-of/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/7af/ben-bernanke-1388_benefits_one-would-be-forgiven-for-concluding-tha_672639.png) > [We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.](https://sms4smile.com/quotes/ben-bernanke/we-do-not-expect-significant-spillovers-from-the-subprime-market-to/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/54f/ben-bernanke-1388_customer_we-do-not-expect-significant-spillovers_34814.png) > [September and October of 2008 was the worst financial crisis in global history, including the Great Depression.](https://sms4smile.com/quotes/ben-bernanke/september-and-october-of-2008-was-the-worst-financial-crisis-in/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/7b9/ben-bernanke-1388_crisis_september-and-october-of-2008-was-the-wo_2066878.png) > [The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.](https://sms4smile.com/quotes/ben-bernanke/the-impact-on-the-broader-economy-and-financial-markets-of-the/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/d6e/ben-bernanke-1388_customer_the-impact-on-the-broader-economy-and-fi_297073.png) > [The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.](https://sms4smile.com/quotes/ben-bernanke/the-financial-crisis-appears-to-be-mostly-behind-us-and-the-economy/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/88a/ben-bernanke-1388_behinds_the-financial-crisis-appears-to-be-mostl_3201654.png) > [Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in…](https://sms4smile.com/quotes/ben-bernanke/our-mission-as-set-forth-by-the-congress-is-a-critical-one-to/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/b8b/ben-bernanke-1388_congress_our-mission-as-set-forth-by-the-congress_1813920.png) > [With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable…](https://sms4smile.com/quotes/ben-bernanke/with-respect-to-their-safety-derivatives-for-the-most-part-are-traded/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/379/ben-bernanke-1388_customer_with-respect-to-their-safety-derivatives_1282014.png) > [Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to…](https://sms4smile.com/quotes/ben-bernanke/well-the-u-s-of-course-is-the-world-s-largest-economy-it-s-about-a/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/ff8/ben-bernanke-1388_about_well-the-u-s-of-course-is-the-world-s-la_454550.jpg) > [The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer…](https://sms4smile.com/quotes/ben-bernanke/the-crisis-in-europe-has-affected-the-us-economy-by-acting-as-a-drag/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/4d9/ben-bernanke-1388_acting_the-crisis-in-europe-has-affected-the-us_1187620.png) > [The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer…](https://sms4smile.com/quotes/ben-bernanke/the-crisis-in-europe-has-affected-the-u-s-economy-by-acting-as-a-drag/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/a39/ben-bernanke-1388_acting_the-crisis-in-europe-has-affected-the-u_2910049.jpg) > [Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial…](https://sms4smile.com/quotes/ben-bernanke/importantly-in-the-1930s-in-the-great-depression-the-federal-reserve/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/e09/ben-bernanke-1388_1930s_importantly-in-the-1930s-in-the-great-de_2513587.png) > [I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing…](https://sms4smile.com/quotes/ben-bernanke/i-and-others-were-mistaken-early-on-in-saying-that-the-subprime/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/557/ben-bernanke-1388_broads_i-and-others-were-mistaken-early-on-in-s_1344417.jpg) > [Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their…](https://sms4smile.com/quotes/ben-bernanke/given-the-central-role-of-effective-firmwide-risk-management-in/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/f16/ben-bernanke-1388_aspect_given-the-central-role-of-effective-firm_551715.jpg) > [There's no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would…](https://sms4smile.com/quotes/ben-bernanke/there-s-no-denying-that-a-collapse-in-stock-prices-today-would-pose/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) [Image](https://sms4smile.com/quotes/i/029/ben-bernanke-1388_cases_there-s-no-denying-that-a-collapse-in-st_1489031.jpg) ## Other authors on Financial ## More by Ben Bernanke > [If Wall Street crashes, does Main Street follow? Not necessarily.](https://sms4smile.com/quotes/ben-bernanke/if-wall-street-crashes-does-main-street-follow-not-necessarily/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [The Federal Reserve is not currently forecasting a recession.](https://sms4smile.com/quotes/ben-bernanke/the-federal-reserve-is-not-currently-forecasting-a-recession/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.](https://sms4smile.com/quotes/ben-bernanke/we-do-not-expect-significant-spillovers-from-the-subprime-market-to/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [In the past, Federal Reserve chairmen have not generally gone directly to the public.](https://sms4smile.com/quotes/ben-bernanke/in-the-past-federal-reserve-chairmen-have-not-generally-gone-directly/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [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…](https://sms4smile.com/quotes/ben-bernanke/the-u-s-government-has-a-technology-called-a-printing-press-or-today/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [The Depression was an incredibly dramatic episode - an era of stock-market crashes, breadlines, bank runs and wild currency speculation, with the storm clouds…](https://sms4smile.com/quotes/ben-bernanke/the-depression-was-an-incredibly-dramatic-episode-an-era-of-stock/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [Community development has a long history of innovation and learning from experience.](https://sms4smile.com/quotes/ben-bernanke/community-development-has-a-long-history-of-innovation-and-learning/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [To be sure, the provision of liquidity alone can by no means solve the problems of credit risk and credit losses; but it can…](https://sms4smile.com/quotes/ben-bernanke/to-be-sure-the-provision-of-liquidity-alone-can-by-no-means-solve-the/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a…](https://sms4smile.com/quotes/ben-bernanke/consumers-going-through-foreclosure-typically-will-see-their-credit/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.](https://sms4smile.com/quotes/ben-bernanke/if-you-are-not-happy-with-yourself-even-the-loftiest-achievements-won/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [High levels of homeownership have been shown to foster greater involvement in school and civic organizations, higher graduation rates, and greater neighborhood stability.](https://sms4smile.com/quotes/ben-bernanke/high-levels-of-homeownership-have-been-shown-to-foster-greater/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals](https://sms4smile.com/quotes/ben-bernanke/the-federal-reserve-has-the-capacity-to-operate-in-domestic-money/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [The Federal Reserve will not monetize the debt.](https://sms4smile.com/quotes/ben-bernanke/the-federal-reserve-will-not-monetize-the-debt/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social…](https://sms4smile.com/quotes/ben-bernanke/to-avoid-large-and-unsustainable-budget-deficits-the-nation-will/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [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…](https://sms4smile.com/quotes/ben-bernanke/the-u-s-government-has-a-technology-called-a-printing-press-or-today-2/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/financial/ben-bernanke/#itemlist", "name": "17 Financial Quotes By Ben Bernanke", "numberOfItems": 17, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.", "creator": { "@type": "Person", 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"position": 5, "item": { "@type": "Quotation", "text": "We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.", "creator": { "@type": "Person", "name": "Ben Bernanke" }, "url": "https://sms4smile.com/quotes/ben-bernanke/we-do-not-expect-significant-spillovers-from-the-subprime-market-to/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/54f/ben-bernanke-1388_customer_we-do-not-expect-significant-spillovers_34814.png", "contentUrl": "https://sms4smile.com/quotes/i/54f/ben-bernanke-1388_customer_we-do-not-expect-significant-spillovers_34814.png", "url": "https://sms4smile.com/quotes/i/54f/ben-bernanke-1388_customer_we-do-not-expect-significant-spillovers_34814.png", "width": 1080, "height": 1080, "caption": "“We do not expect significant spillovers from the subprime market to the rest of the economy or to the…” — Ben Bernanke", "creditText": "SMS4Smile Quotes", "creator": { "@id": 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