The distribution of wealth is even more unequal than that of income. ...The wealthiest 5% of American households held 54% of all… — 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
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
Social safety-net spending is an important form of public funding that helps offset disparities in family resources for children. — Janet Yellen Copy Share Image
The average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013. About one-fourth of… — Janet Yellen Copy Share Image
After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison,… — Janet Yellen Copy Share Image
Housing wealth - the net equity held by households, consisting of the value of their homes minus their mortgage debt - is… — Janet Yellen Copy Share Image
The lower half of households by wealth held just 3% of wealth in 1989 and only 1% in 2013. — 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
Many financial innovations such as the increased availability of low-cost mutual funds have improved opportunities for households to participate in asset markets… — Janet Yellen Copy Share Image
Household spending growth has been particularly solid in 2015, with purchases of new motor vehicles especially strong. Job growth has bolstered household… — Janet Yellen Copy Share Image
[A] major source of wealth for many families is financial assets, including stocks, bonds, mutual funds, and private pensions. ...the wealthiest 5… — Janet Yellen Copy Share Image
U.S. economic activity continues to expand, led by solid growth in household spending. But business investment remains soft, and subdued foreign demand… — 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
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