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
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.
Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
In government institutions and in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and why. The same principles apply to businesses.
It slightly worries me that when people find a problem, they rush to judgment of what to do.
For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.
If it were possible to take interest rates into negative territory I would be voting for that.
Listening to others, especially those with whom we disagree, tests our own ideas and beliefs. It forces us to recognize, with humility, that we don't have a monopoly on the truth.
I think it is appropriate to ask whether this trend is compatible with values rooted in our nation's history, among them the high value Americans have traditionally placed on equality of opportunity.
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.
Higher oil prices may be partly passed through to core inflation at least for a time,
Inequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people.
In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.
Indeed, only 10 percent of American workers are in manufacturing, which is arguably the sector most exposed to foreign competition.
I consider it reasonable to put the current neutral rate in a range of 3.5 percent to 5.5 percent.