Janet Yellen
Janet Yellen
Janet Louise Yellenis an American economist. She is the Chair of the Board of Governors of the Federal Reserve System, previously serving as Vice Chair from 2010 to 2014. Previously, she was President and Chief Executive Officer of the Federal Reserve Bank of San Francisco; Chair of the White House Council of Economic Advisers under President Bill Clinton; and business professor at the University of California, Berkeley, Haas School of Business...
NationalityAmerican
ProfessionPolitician
Date of Birth13 August 1946
CityNew York City, NY
CountryUnited States of America
I see no evidence of feedbacks from energy prices to wage bargaining. The risk, though, is that, without appropriate policy, we could see a repetition of the '70s-type dynamic.
Our approach during this phase must be particularly dependent on information from incoming data,
They will simply be engaged in discussions of the Indonesian situation, and attempting to assess how things are going there and emphasizing the President's resolve that Indonesia take the necessary structural steps the IMF believes are necessary for recovery,
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.
Estimates of the extent of spending are escalating, and the recovery and bounce-back, fueled by massive fiscal stimulus, could propel the U.S. economy on an unsustainable upward trajectory,
People stop buying things, and that is how you turn a slowdown into a recession.
Food and energy account for a significant portion of household budgets, so the Federal Reserve's inflation objective is defined in terms of the overall change in consumer prices.
This sector has been a key source of strength in the current expansion, and the concern is that, if house prices fell, the negative impact on household wealth could lead to a pullback in consumer spending.
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.
While admirers of capitalism, we also to a certain extent believe it has limitations that require government intervention in markets to make them work.
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.
We do need to be careful about overshooting.
Those of you who lived through the 1970's will remember that higher oil prices touched off a wage-price spiral that pushed inflation into double-digit territory,