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
Estimates of the extent of spending are escalating, and the recovery and bounce-back, fueled by massive fiscal stimulus, could propel the U.S. economy on an unsustainable upward trajectory,
suggests that the economy has been remarkably resilient and apt to remain on a solid track.
Inequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people.
Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not,
Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
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.
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.
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.
I see no evidence of feedbacks from energy prices to wage bargaining. The risk, though, is that, without appropriate policy, we could see a repetition of the '70s-type dynamic.
I see no evidence of feedbacks from energy prices to wage bargaining, ... The risk, though, is that, without appropriate policy, we could see a repetition of the 70's type dynamic.
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
Our approach during this phase must be particularly dependent on information from incoming data,
There's more of the same on the horizon of good times. There's no obvious reason for the good times to end.
We do need to be careful about overshooting.