A Quote by Janet Yellen
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.
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When the financial system works as it should, money and capital flow to and from households and businesses to pay for home loans, school loans, and investments to create jobs.
Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
Prices are going up. Unemployment continues to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.
Prices are going up. Unemployment is continue to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
I've led programs that have helped thousands of individuals, small businesses, veterans, the disabled, farmers get low-interest loans to prosper.
The Federal Reserve has a responsibility to ensure the safety and soundness of financial institutions and to contain systemic risks in financial markets.
Part of Obamacare eliminated the private sector financial market that engages in giving college student loans. I mean, now the federal government has taken over college student loans, so I sit back and strategically look at this and say this just cannot be happening.
Credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or fulfill other financial needs.
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.
Keep in mind that, when I came in, we had had a crisis that was the worst we've seen since the 1930s, and working with people like Chancellor Merkel, working with the G-20 and other institutions internationally, we were able to stabilize the financial system, stabilize the US economy and return to growth.
Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money.
Before the CFPB, there was no single agency or entity within the federal government tasked with protecting Americans from predatory or negligent practices of banks, credit card companies, mortgage lenders, payday lenders, credit rating agencies and other financial service businesses.
When you talk about entitlement programs, it's not just about - it's not about cutting those programs. It is about saving those programs. Those programs are on a path of fiscal unsustainability.
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