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I've been collecting rocks since I was 8 and have over 200 different specimens.

I studied piano for seven years and play for my own enjoyment.

Firms are not always willing to cut wages, even if there are people lined up outside the gates to work. So why don't they?

From Janet Yellen

When you hire a nanny, the question you ask yourself is, 'What's best for my precious child?' And do you really want someone who feels that your motive in life is to minimize the amount you spend on your child?

From Janet Yellen

I felt that the Fed had always been the agency that picked up the pieces when there was a financial crisis, and it was invented to do exactly that.

From Janet Yellen

My advice would be, as you consider fiscal policies, to keep in mind and look carefully at the impact those policies are likely to have on the economy's productive capacity, on productivity growth, and to the maximum extent possible, choose policies that would improve that long-run growth and productivity outlook.

From Janet Yellen

Starting in late 2007, faced with acute financial market distress, the Federal Reserve created programs to keep credit flowing to households and businesses. The loans extended under those programs helped stabilize the financial system.

From Janet Yellen

In 2006, the Congress had approved plans to allow the Fed, beginning in 2011, to pay interest on banks' reserve balances. In the fall of 2008, the Congress moved up the effective date of this authority to October 2008.

From Janet Yellen

Paying interest on reserve balances enables the Fed to break the strong link between the quantity of reserves and the level of the federal funds rate and, in turn, allows the Federal Reserve to control short-term interest rates when reserves are plentiful.

From Janet Yellen

A higher IOER rate encourages banks to raise the interest rates they charge, putting upward pressure on market interest rates regardless of the level of reserves in the banking sector. While adjusting the IOER rate is an effective way to move market interest rates when reserves are plentiful, federal funds have generally traded below this rate.

From Janet Yellen

Janet Yellen

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