Top 149 Quotes & Sayings by Janet Yellen - Page 2

Housing is a relatively small sector of the economy, and its decline should be self-correcting.

My parents were born in 1906 and 1907. I think the experience of the Depression greatly influenced the way they thought about the world.

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.

Our ability to predict how the federal funds rate will evolve over time is quite limited because monetary policy will need to respond to whatever disturbances may buffet the economy.

We're charged by Congress with regulating financial institutions. We take that mission seriously. We are tough supervisors and regulators.

There is always some chance of recession in any year. But the evidence suggests that expansions don't die of old age.

An important factor influencing intergenerational mobility and trends in inequality over time is economic opportunity.

Business students are very oriented to playing a role in the real world and accomplishing something, not training themselves to be scholars and contribute to the literature. Teaching in that kind of environment has focused me much more on the real world, how pieces of the theory I know can be applied to real-world situations.

In 2006, the Congress had approved plans to allow the Fed, beginning in 2011, to pay interest on banks' reserve balances. In the fall of 2008, the Congress moved up the effective date of this authority to October 2008.

Starting in late 2007, faced with acute financial market distress, the Federal Reserve created programs to keep credit flowing to households and businesses. The loans extended under those programs helped stabilize the financial system.

In effect, there has been a significant shortfall in the overall amount of monetary policy stimulus since early 2009.

Firms don't just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm's behalf if they feel that wage policies are unfair?

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 at incoming data, and to form their own judgments as to whether or not changes in policy would be appropriate.

It's extremely important for our banks to have more capital, higher quality capital.

Paying interest on reserve balances enables the Fed to break the strong link between the quantity of reserves and the level of the federal funds rate and, in turn, allows the Federal Reserve to control short-term interest rates when reserves are plentiful.

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 studied piano for seven years and play for my own enjoyment.

My advice would be, as you consider fiscal policies, to keep in mind and look carefully at the impact those policies are likely to have on the economy's productive capacity, on productivity growth, and to the maximum extent possible, choose policies that would improve that long-run growth and productivity outlook.

I would be uncomfortable raising the federal funds rate if readings on wage growth, core consumer prices, and other indicators of underlying inflation pressures were to weaken, if market-based measures of inflation compensation were to fall appreciably further, or if survey-based measures were to begin to decline noticeably.

A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.

Social safety-net spending is an important form of public funding that helps offset disparities in family resources for children.

The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with very few assets to fall back on. We have come far from the worst moments of the crisis, and the economy continues to improve.

It slightly worries me that when people find a problem, they rush to judgment of what to do.

Stores don't order merchandise unless they think they can sell it right away. Manufacturers and builders don't produce unless they have buyers lined up. My business contacts describe this as a paradigm shift and they believe it's permanent.

Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not. Are deviations from full employment a social problem? Obviously.

The outlook for the economy, as always, is highly uncertain.

We have put in place policies through supervision and regulation that has greatly enhanced the safety and soundness of the banking system.

Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.

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.

Maturity transformation is a central part of the economic function of banks and many other types of financial intermediaries.

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.

It's appropriate for the Fed to gradually and cautiously increase our overnight interest rate over time.

Firms are not always willing to cut wages, even if there are people lined up outside the gates to work. So why don't they?

New policy tools, which helped the Federal Reserve respond to the financial crisis and Great Recession, are likely to remain useful in dealing with future downturns.

Increased business sales would almost certainly raise the productive capacity of the economy by encouraging additional capital spending, especially if accompanied by reduced uncertainty about future prospects.

We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.

I am strongly committed to pursuing the dual goals that Congress has assigned us: maximum employment and price stability.

Over a long period of time, technological change is something that has been important in reducing manufacturing employment - absolutely and as a share of jobs in the economy.

An increase in shareholder value can arise for reasons other than greater efficiency, such as increased power and the resulting ability to increase profits by raising prices.

For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms - have found it easier to continue producing by - with - reducing their workforces.

It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming.

The extent of and continuing increase in inequality in the United States greatly concern me.

It certainly would be helpful going forward for deficit reduction efforts to focus on the medium term while not subtracting from the impetus we need to keep a fragile economy moving forward.

I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.

Strapped by tight credit and plummeting sales, businesses have overhauled the way they manage supply chains, inventory, production practices and staffing.

I am anxious to fix welfare. There has to be more training and child care.

U.S. economic activity continues to expand, led by solid growth in household spending. But business investment remains soft, and subdued foreign demand and the appreciation of the dollar since mid-2014 continue to restrain exports.

I felt that the Fed had always been the agency that picked up the pieces when there was a financial crisis, and it was invented to do exactly that.

When the time comes to raise rates, I do think there will be some benefits that flow through to savers.

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.

As a general principle, the American people would be well served by the active pursuit of effective policies to support longer-run growth in productivity.

There were a lot of manufacturing jobs lost over a long period of time and particularly after - during the Great Recession. We've had some recovery in manufacturing employment as the economy's recovered.

Housing wealth - the net equity held by households, consisting of the value of their homes minus their mortgage debt - is the most important source of wealth for all but those at the very top.

If strong economic conditions can partially reverse supply-side damage after it has occurred, then policymakers may want to aim at being more accommodative during recoveries than would be called for under the traditional view that supply is largely independent of demand.

I want to be completely clear that I strongly oppose 'Audit the Fed.'

When you're unemployed for six months or a year, it is hard to qualify for a lease, so even the option of relocating to find a job is often off the table.

One common way of judging whether housing's price is in line with its fundamental value is to consider the ratio of housing prices to rents. This is analogous to the ratio of prices to dividends for stocks.

Audit the Fed is a bill that would politicize monetary policy, would bring short-term political pressures to bear on the Fed. In terms of openness about our financial accounts, we are extensively audited.

If we were to raise interest rates too steeply, and we were to trigger a downturn or contribute to a downturn, we have limited scope for responding, and it is an important reason for caution.

A higher IOER rate encourages banks to raise the interest rates they charge, putting upward pressure on market interest rates regardless of the level of reserves in the banking sector. While adjusting the IOER rate is an effective way to move market interest rates when reserves are plentiful, federal funds have generally traded below this rate.