Janet Yellen
Janet Yellen
Janet Louise Yellenis an American economist. She is the Chair of the Board of Governors of the Federal Reserve System, previously serving as Vice Chair from 2010 to 2014. Previously, she was President and Chief Executive Officer of the Federal Reserve Bank of San Francisco; Chair of the White House Council of Economic Advisers under President Bill Clinton; and business professor at the University of California, Berkeley, Haas School of Business...
NationalityAmerican
ProfessionPolitician
Date of Birth13 August 1946
CityNew York City, NY
CountryUnited States of America
Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not,
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.
Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
In government institutions and in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and why. The same principles apply to businesses.
It slightly worries me that when people find a problem, they rush to judgment of what to do.
For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.
If it were possible to take interest rates into negative territory I would be voting for that.
Listening to others, especially those with whom we disagree, tests our own ideas and beliefs. It forces us to recognize, with humility, that we don't have a monopoly on the truth.
I think it is appropriate to ask whether this trend is compatible with values rooted in our nation's history, among them the high value Americans have traditionally placed on equality of opportunity.
Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.
I support the idea of a quantitative objective for price stability.
Labor force participation peaked in early 2000, so its decline began well before the Great Recession. A portion of that decline clearly relates to the aging of the baby boom generation. But the pace of decline accelerated with the recession.
We do need to be careful about overshooting.
While admirers of capitalism, we also to a certain extent believe it has limitations that require government intervention in markets to make them work.