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Janet Yellen Quotes
Janet Yellen Quotes
Janet Yellen
American
Public Servant
Born:
Aug 13
,
1946
Financial
Important
Inflation
Time
Will
You
Related authors:
Andrew Yang
Ben Bernanke
Betsy DeVos
Clara Barton
Elizabeth Warren
Hope Hicks
Jerome Powell
Jim Mattis
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.
Janet Yellen
Fall
Beginning
Pay
Congress
Approved
Date
Fed
Allow
Had
Balances
October
Effective
Up
Authority
Moved
Banks
Interest
Plans
Reserve
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.
Janet Yellen
Strong
Control
Plentiful
Rate
Rates
Fed
Federal
Federal Reserve
Between
Balances
Quantity
Enables
Link
Break
Short-Term
Interest
Interest Rates
Turn
Paying
Reserve
Reserves
Level
Funds
An increase in shareholder value can arise for reasons other than greater efficiency, such as increased power and the resulting ability to increase profits by raising prices.
Janet Yellen
Value
Power
Increase
Increased
Other
Ability
Resulting
Prices
Arise
Greater
Efficiency
Than
Reasons
Profits
Raising
It is hard to have great confidence in predicting what market reactions to Fed decisions will be.
Janet Yellen
Great
Confidence
Will
Market
Fed
Reactions
Predicting
Decisions
Hard
When the time comes to raise rates, I do think there will be some benefits that flow through to savers.
Janet Yellen
Time
Benefits
Will
Think
Some
Rates
Through
Flow
Raise
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.
Janet Yellen
Inflation
Fall
Other
Further
Pressures
Weaken
Would
Would-Be
Rate
Uncomfortable
Federal
Prices
Consumer
Underlying
Readings
Wage
Were
Begin
Decline
Measures
Growth
Compensation
Funds
Raising
Core
Maturity transformation is a central part of the economic function of banks and many other types of financial intermediaries.
Janet Yellen
Maturity
Financial
Transformation
Other
Types
Economic
Part
Banks
Central
Many
Function
The extent of and continuing increase in inequality in the United States greatly concern me.
Janet Yellen
Me
Increase
States
Concern
Inequality
Continuing
Greatly
United
United States
Extent
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.
Janet Yellen
Great
Financial
Fall
Few
Recession
Extraordinarily
Dramatic
Back
Worst
Financial Crisis
Unmistakable
Crisis
Share
Come
Economy
Vulnerable
How
Very
Families
Improve
American
American Families
Far
Manner
Large
Moments
Assets
Are deviations from full employment a social problem? Obviously.
Janet Yellen
Problem
Employment
Obviously
Social
Full
The pace of increases in labor compensation provides another possible indicator, albeit an imperfect one, of the degree of labor market slack.
Janet Yellen
Degree
Increases
Market
Possible
Indicator
Imperfect
Another
Provides
Labor
Pace
Slack
Compensation
Albeit
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.
Janet Yellen
Strong
Job
Energy
Other
Spend
Spending
Solid
Job Growth
Has-Been
Purchases
More
Prices
Consumers
Vehicles
New
Goods
Particularly
Household
Been
Motor
Left
Energy Prices
Lower
Income
Growth
Services
A wide range of possible fiscal policy tools and approaches could enhance the cyclical stability of the economy. For example, steps could be taken to increase the effectiveness of the automatic stabilizers, and some economists have proposed that greater fiscal support could be usefully provided to state and local governments during recessions.
Janet Yellen
Example
Increase
State
Local
Tools
Approaches
Local Governments
Range
Possible
Some
Could
Proposed
Taken
Support
Steps
Economists
Economy
For Example
Policy
Greater
Fiscal
Provided
Governments
Effectiveness
Stability
Automatic
Cyclical
Enhance
Wide
Wide Range
As always, it would be important to ensure that any fiscal policy changes did not compromise long-run fiscal sustainability.
Janet Yellen
Important
Changes
Ensure
Would
Would-Be
Compromise
Policy
Always
Fiscal
Did
Any
Sustainability
Financial market participants appear to recognize the FOMC's data-dependent approach because incoming data surprises typically induce changes in market expectations about the likely future path of policy, resulting in movements in bond yields that act to buffer the economy from shocks.
Janet Yellen
Future
Financial
Path
Changes
Approach
Market
Recognize
About
Data
Resulting
Participants
Induce
Economy
Likely
Buffer
Policy
Because
Surprises
Yields
Shocks
Expectations
Movements
Act
Appear
Incoming
Bond
The outlook for the economy, as always, is highly uncertain.
Janet Yellen
Uncertain
Outlook
Highly
Economy
Always
It seems to me that women have made an awful lot of progress, but they probably remain underrepresented at the highest levels of most organizations, for a variety of reasons. And it's probably going to take a long time to change that.
Janet Yellen
Time
Me
Change
Women
Progress
Made
Long
Long Time
Seems
Variety
Remain
Take
Highest
Highest Levels
Most
Lot
Going
Organizations
Reasons
Awful
Awful Lot
Levels
To me, the greatest asset of the Fed is the people. We have a tremendously dedicated staff... They feel proud to work for the Fed because this is such a competent, professional and well-respected organization.
Janet Yellen
Work
Me
People
Organization
Tremendously
Fed
Feel
Because
Greatest
Greatest Asset
Proud
Staff
Dedicated
Professional
Asset
Competent
Monetary policy ultimately must be conducted in a pragmatic manner that relies not on any particular indicator or model but, instead, reflects an ongoing assessment of a wide range of information in the context of our ever-evolving understanding of the economy.
Janet Yellen
Understanding
Our
Range
Must
Indicator
Ongoing
Instead
Particular
Economy
Policy
Pragmatic
Context
Ultimately
Reflects
Model
Any
Information
Manner
Assessment
Monetary
Monetary Policy
Wide
Wide Range
Private sector labor market flows provide additional indications of the strength of the labor market. For example, the quits rate has tended to be pro-cyclical, since more workers voluntarily quit their jobs when they are more confident about their ability to find new ones and when firms are competing more actively for new hires.
Janet Yellen
Strength
Example
Market
Additional
Sector
Jobs
Find
Ability
About
Rate
More
Voluntarily
Since
New
For Example
Private
Provide
New Ones
Private Sector
Labor
Quit
Confident
Quits
Workers
Actively
Competing
Flows
Monetary policy will, as always, respond to the economy's twists and turns so as to promote, as best as we can in an uncertain economic environment, the employment and inflation goals.
Janet Yellen
Best
Goals
Inflation
Will
Respond
Promote
Uncertain
Economic
Environment
Economy
Employment
Policy
Always
Turns
Monetary
Monetary Policy
Twists
The Fed should not be responding to the ups and downs of the markets, and it is certainly not our policy to do so. But when there are significant financial developments, it's incumbent on us to ask ourselves what is causing them.
Janet Yellen
Financial
Ups And Downs
Incumbent
Our
Markets
Responding
Ourselves
Significant
Fed
Developments
Policy
Causing
Ups
Them
Ask
Us
Should
Certainly
Downs
Many financial innovations such as the increased availability of low-cost mutual funds have improved opportunities for households to participate in asset markets and diversify their holdings.
Janet Yellen
Mutual Funds
Financial
Opportunities
Increased
Innovations
Markets
Mutual
Diversify
Participate
Households
Improved
Availability
Low-Cost
Many
Asset
Funds
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential approach to supervision and regulation needs to play the primary role.
Janet Yellen
Needs
Financial
Result
Inflation
Believe
Increase
Approach
Financial Stability
Adjustment
Would
Promote
Rates
Through
Supervision
Volatility
Primary
Employment
Role
Efforts
Stability
Interest
Interest Rates
Regulation
Play
In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.
Janet Yellen
Benefits
Long
Giving
Ways
Run
Long Run
Cheaper
Outsourcing
Economy
Another
Trade
Form
Us
Things
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
Janet Yellen
Government
Commitment
Better
Important
Understanding
Reflect
Accountability
Our
System
More
Federal
Democratic
Concerning
Policy
Because
Within
However
Effectiveness
Conduct
Public
Communications
Transparency
Transparent
Reserve
Enhances
Monetary
Monetary Policy
Desirable
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