New policy tools, which helped the Federal Reserve respond to the financial crisis and Great Recession, are likely to remain useful in… — Janet Yellen Copy Share Image
In effect, there has been a significant shortfall in the overall amount of monetary policy stimulus since early 2009. — Janet Yellen Copy Share Image
I felt that the Fed had always been the agency that picked up the pieces when there was a financial crisis, and… — Janet Yellen Copy Share Image
Our ability to predict how the federal funds rate will evolve over time is quite limited because monetary policy will need to… — Janet Yellen Copy Share Image
It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming. — Janet Yellen Copy Share Image
I will be the first to say that it is always difficult to get monetary policy just right. But the Fed's analytical… — Janet Yellen Copy Share Image
Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns. — Janet Yellen Copy Share Image
I continue to think many of the factors holding down inflation are transitory... We want to be careful not to jump to… — Janet Yellen Copy Share Image
A higher IOER rate encourages banks to raise the interest rates they charge, putting upward pressure on market interest rates regardless of… — Janet Yellen Copy Share Image
During the 1970s, inflation expectations rose markedly because the Federal Reserve allowed actual inflation to ratchet up persistently in response to economic… — Janet Yellen Copy Share Image
In 2006, the Congress had approved plans to allow the Fed, beginning in 2011, to pay interest on banks' reserve balances. In… — Janet Yellen Copy Share Image
The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the… — Janet Yellen Copy Share Image
Starting in late 2007, faced with acute financial market distress, the Federal Reserve created programs to keep credit flowing to households and… — Janet Yellen Copy Share Image
Because food and energy prices are volatile, it is often helpful to look at inflation excluding those two categories - known as… — Janet Yellen Copy Share Image
If we were to raise interest rates too steeply, and we were to trigger a downturn or contribute to a downturn, we… — Janet Yellen Copy Share Image
To me, the greatest asset of the Fed is the people. We have a tremendously dedicated staff... They feel proud to work… — Janet Yellen Copy Share Image
Monetary policy will, as always, respond to the economy's twists and turns so as to promote, as best as we can in… — Janet Yellen Copy Share Image
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target. — Janet Yellen Copy Share Image
A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad… — Janet Yellen Copy Share Image
If it were possible to take interest rates into negative territory I would be voting for that. — Janet Yellen Copy Share Image
The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from… — Janet Yellen Copy Share Image
It's appropriate for the Fed to gradually and cautiously increase our overnight interest rate over time. — Janet Yellen Copy Share Image
Food and energy account for a significant portion of household budgets, so the Federal Reserve's inflation objective is defined in terms of… — Janet Yellen Copy Share Image
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect… — Janet Yellen Copy Share Image
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags.… — Janet Yellen Copy Share Image
Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of… — Janet Yellen Copy Share Image
Audit the Fed is a bill that would politicize monetary policy, would bring short-term political pressures to bear on the Fed. In… — Janet Yellen Copy Share Image
The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or… — Janet Yellen Copy Share Image
The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of… — Janet Yellen Copy Share Image
The Fed should not be responding to the ups and downs of the markets, and it is certainly not our policy to… — Janet Yellen Copy Share Image
The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial… — Janet Yellen Copy Share Image
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be… — Janet Yellen Copy Share Image
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important,… — Janet Yellen Copy Share Image
By putting downward pressure on interest rates, the Fed is trying to make financial conditions more accommodative - supporting asset values and… — Janet Yellen Copy Share Image
One common way of judging whether housing's price is in line with its fundamental value is to consider the ratio of housing… — Janet Yellen Copy Share Image
The future path of the federal funds rate is necessarily uncertain because economic activity and inflation will likely evolve in unexpected ways.… — Janet Yellen Copy Share Image
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I… — Janet Yellen Copy Share Image
Models used to describe and predict inflation commonly distinguish between changes in food and energy prices - which enter into total inflation… — Janet Yellen Copy Share Image
If strong economic conditions can partially reverse supply-side damage after it has occurred, then policymakers may want to aim at being more… — Janet Yellen Copy Share Image
I would be uncomfortable raising the federal funds rate if readings on wage growth, core consumer prices, and other indicators of underlying… — Janet Yellen Copy Share Image
Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014. — Janet Yellen Copy Share Image
Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not. Are deviations from full employment a social problem? Obviously. — Janet Yellen Copy Share Image
Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and… — Janet Yellen Copy Share Image
For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms… — Janet Yellen Copy Share Image
For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow… — Janet Yellen Copy Share Image
It's important for market participants to have a sense of how we think about the economy and the appropriate path of policy, to look… — Janet Yellen Copy Share Image
If there is a job that you feel passionate about, do what you can to pursue that job; if there is a purpose about… — Janet Yellen Copy Share Image
Although we work through financial markets, our goal is to help Main Street, not Wall Street. — Janet Yellen Copy Share Image
I felt that the Fed had always been the agency that picked up the pieces when there was a financial crisis, and it was… — Janet Yellen Copy Share Image
Increased business sales would almost certainly raise the productive capacity of the economy by encouraging additional capital spending, especially if accompanied by reduced uncertainty… — Janet Yellen Copy Share Image
There were a lot of manufacturing jobs lost over a long period of time and particularly after - during the Great Recession. We've had… — Janet Yellen Copy Share Image
Uncertainty about sales impedes business planning and could harm capital formation just as much as uncertainty about inflation can create uncertainty about relative prices… — Janet Yellen Copy Share Image
