Author

We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.

From Janet Yellen

I would be uncomfortable raising the federal funds rate if readings on wage growth, core consumer prices, and other indicators of underlying inflation pressures were to weaken, if market-based measures of inflation compensation were to fall appreciably further, or if survey-based measures were to begin to decline noticeably.

From Janet Yellen

Maturity transformation is a central part of the economic function of banks and many other types of financial intermediaries.

From Janet Yellen

By putting downward pressure on interest rates, the Fed is trying to make financial conditions more accommodative - supporting asset values and lower borrowing costs for households and businesses and thus encouraging the spending that spurs job creation and a stronger recovery.

From Janet Yellen

The extent of and continuing increase in inequality in the United States greatly concern me.

From Janet Yellen

The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with very few assets to fall back on. We have come far from the worst moments of the crisis, and the economy continues to improve.

From Janet Yellen

Policy makers should be compelled to take action given the serious costs of long-term unemployment when overall unemployment is already high. A week of unemployment is worse when it is experienced as part of a longer spell.

From Janet Yellen

Are deviations from full employment a social problem? Obviously.

From Janet Yellen

The pace of increases in labor compensation provides another possible indicator, albeit an imperfect one, of the degree of labor market slack.

From Janet Yellen

Household spending growth has been particularly solid in 2015, with purchases of new motor vehicles especially strong. Job growth has bolstered household income, and lower energy prices have left consumers with more to spend on other goods and services.

From Janet Yellen

Janet Yellen

Notable Quotes

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