A Quote by Janet Yellen
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.
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Household spending growth has been particularly solid in 2015, with purchases of new motor vehicles especially strong. Job growth has bolstered household income, and lower energy prices have left consumers with more to spend on other goods and services.
In principle, there are only three main components of spending that much matter to monetary policy: consumer spending, business investment and exports and trade.
Here at home, ... while the most likely scenario remains solid growth and low inflation -- subject to the usual ups and downs -- certain sectors have been impacted by the crisis, some because of increased imports and others because of decreased exports. Moreover, problems in the global economy do constitute a risk to all our overall economic well-being.
The economy has barely recovered from the so-called 'Great Recession', with a 2 percent annual rate of growth since mid-2009. Peak worker wages, business investment, and productivity all occurred around the year 2000.
Requiring the Fed to focus on preserving the purchasing power of the dollar will create a solid foundation for economic growth.
Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by improving human capital, encouraging technological innovation, and spurring private-sector investment by increasing returns.
Eliminating the Death Tax will continue to restore consumer confidence, spur capital investment, and create new jobs which are critical components of economic growth, particularly within the small business community.
Investment in the eradication of hunger today is a good business decision. If we fail to make this investment, it is doubtful that we can sustain healthy economic growth. Without this investment, our nation may disintegrate into a country sharply divided between those who have enough to eat and those who do not.
Technology investment drove growth in the 1990s, both directly and by fueling a rising stock market that led to increased consumer spending.
A nation with a strong defence industry will not only be more secure. It will also reap rich economic benefits - it can boost investment, expand manufacturing, support enterprise, raise the technology level and increase economic growth in the country.
Spending an extra dollar on the D.C. public school system isn't spending an extra dollar on education. Spending an extra dollar with the Pentagon doesn't buy you an extra dollar on defense. Republicans need to look skeptically at military spending.
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work.
Working together, we will continue to lay the foundation for a new generation of inclusive economic growth, expand economic opportunity for middle-class families, and ensure that innovative businesses have the support they need to thrive and grow in the years to come.
Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will mean that the increase in aggregate demand from this source may not happen for a year or more.
The road to economic well-being is to reward productive economic activity and to provide a moderate and predictable growth of money to finance real economic growth without reigniting the fires of inflation.
After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive.
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