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
In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.
I consider it reasonable to put the current neutral rate in a range of 3.5 percent to 5.5 percent.
I consider us to be in a range where further moves depend on how the data transpires, but I don't see weakness out there yet.
In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.
The growing capacity of foreign countries to supply goods and services to the U.S. market has impacted the structure of wages and the bargaining power of workers.
The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast.
The trust institutions have in the marketplace, the confidence customers and suppliers and workers and employees have, are very important to a business's effectiveness.
Indeed, only 10 percent of American workers are in manufacturing, which is arguably the sector most exposed to foreign competition.
People stop buying things, and that is how you turn a slowdown into a recession.