Quotes from Ben S. Bernanke

These sessions produced some of our best ideas, and even when they led nowhere they kept us focused.

The growth, however, had not yet translated into a significant improvement in the job market.

I recommended that we hold off in spite of market expectations for a reduction.

Of course, by that time much of the damage had been done.

so I focused as much as I could on the specific task at hand

rules aren't useful unless they are enforced.

had been motivated by the need to act quickly, but, on reflection, I decided that they had a point. At

I tried to appear, and in fact be, calm and deliberate, though my insides often churned.

I exaggerate only slightly when I tell audiences that, if they are impressed with Congress's management of the federal budget, they should support audit-the-Fed legislation to give Congress the responsibility for making monetary policy as well.

the results are not impressive.

It operated by responding to complaints and did not conduct regular examinations.

I had made a mistake in making the announcement with only informal approval and promised I would follow a more deliberative process in the future.

that Greenspan opposed it, "so I didn't really pursue it.

I am glad that we reached out, and not only to explain the Fed's side of the story amid the barrage of negative coverage.

By March 2010, we would phase out the auctions completely.

The FOMC supported my recommendation, with only Esther George dissenting, as she had all year.

the course of the economy is extremely hard to forecast.

but acknowledged his opposition to the idea.

And she always kept me grounded:

That outcome, too, carried risks.

we were right to stay the course on securities purchases.

Greenspan was known for his economic forecasting skills, having run a successful consulting firm,

Our two dogs, Scamper (an ancient beagle-basset) and Tinker (a small, friendly dog of indeterminate breed), provided some diversion.

In my own thinking, I tended to emphasize developments in broader economic indicators—the forest rather than the trees—but I appreciated that the chairman's approach could sometimes yield interesting insights that more standard analyses might miss.