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
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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.
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Food and energy account for a significant portion of household budgets, so the Federal Reserve's inflation objective is defined in terms of the overall change in consumer prices.
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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.
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At the federal level, the fiscal stimulus of 2008 and 2009 supported economic output, but the effects of that stimulus faded; by 2011, federal fiscal policy actions became a drag on output growth when the recovery was still weak.
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The Fed has and must have a commitment to price stability. The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast,
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The Fed has and must have a commitment to price stability, ... The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast.
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The Fed has and must have a commitment to price stability,
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The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or an improvement in living standards. The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work.
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The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
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The Federal Reserve must deliver -- again and again -- on its commitment to price stability,
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The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.
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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.
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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.
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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.