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
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.
When you're unemployed for six months or a year, it is hard to qualify for a lease, so even the option of relocating to find a job is often off the table.
This suggests a presumption that the rate (now at 3.75 percent) will need to be raised further,
Those of you who lived through the 1970s will remember that higher oil prices touched off a wage-price spiral that pushed inflation into double-digit territory.
Those of you who lived through the 1970's will remember that higher oil prices touched off a wage-price spiral that pushed inflation into double-digit territory,
A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.
There were a lot of economists at the Fed who thought not tightening back then was very dangerous. The great accomplishment of the Greenspan Fed was recognizing that productivity growth would allow the economy to grow at a faster rate.
A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.
A credible inflation objective could...enhance the flexibility of monetary policy to respond to the real effects of adverse shocks.
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.
I support the idea of a quantitative objective for price stability.
I wouldn't be surprised to see core PCE inflation actually fall a bit over the next two years