Quotes from Ben S. Bernanke

The council is a remarkably flat organization, with everyone working collaboratively regardless of title or seniority.

it seemed to me that the health of the U.S. economy was linked to what happened in Europe.

it can be too easy to forget where you came from.

To my relief, most of the attending senators seemed to appreciate that promoting global financial stability was in the interest of the United States.

Of course, how far and how fast rates would rise depended on the economy.

I had seriously considered conducting an unscheduled press conference after the November meeting, but decided that it risked disrupting markets. Instead, I spent several hours telephoning key reporters individually, answering questions on background. I also wrote an op-ed that was published November 4 in the Washington Post. Despite these efforts, I was unprepared for the blowback from policymakers abroad and politicians at home.

I would ultimately become a big fan of Tim's, but when I first met him I was underwhelmed.

The pace was much faster than at the Fed.

given public anger at bailouts, support had been gathering from both the right and the left for breaking up the largest institutions.

Still, over time, optimism about resolving Europe's problems faded.

What he had was unqualified support from heavy hitters including former Treasury secretaries Larry Summers and Bob Rubin, as well as the chairman of the New York Fed's board—Pete Peterson, a former commerce secretary under

investors did not see the results as credible,

I was skeptical about giving someone such an important job based on recommendations rather than on qualifications and a record of sustained accomplishment.

My staff and I frequently worked late into the evening, dining on take-out meals from a nearby Subway.

However, markets saw the European effort as vague and insufficiently ambitious.

target. As the world has learned, too little inflation is just as bad as too much inflation.

It turned out, however, to have been the right appointment.

We discussed risks that European developments might pose to the United States, but to date those risks had not materialized.

Unfortunately, for some major foreign economies, consistently achieving inflation goals has been difficult

I recall Lina as extremely intelligent, with refined European tastes.

might be forced to dump them on the market for whatever they could get.

delinquencies and defaults increased to levels not seen since the Depression,

maintained for a considerable period.

however, I thought we might be thinking too narrowly.