A biography for Janet Yellenhasn’t been written yet.
“The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.”
“The pace of increases in labor compensation provides another possible indicator, albeit an imperfect one, of the degree of labor market slack.”
“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.”
“Social safety-net spending is an important form of public funding that helps offset disparities in family resources for children.”
“We need to increase the transparency of shadow banking markets so that authorities can monitor for signs of excessive leverage and unstable maturity transformation outside regulated banks.”
“אם היא תמונה למזכירת האוצר, כאשר היא תיכנס לחדר עם שרי אוצר ממדינות אחרות, היא תהיה האישה הכי מוכנה מראש בחדר – כנראה גם האישה הכי חכמה.”
“אחד הכישרונות שלה שלא מעריכים מספיק הוא יכולתה להביא לקונצנזוס בדרכים משכנעות. היא גורמת לדברים לקרות.”
“אנו עומדים בפני אתגרים גדולים. כדי להתאושש עלינו לשחזר את 'החלום האמריקאי', חברה שבה כל אדם יכול למצות את הפוטנציאל שלו.”
“הציפיות ממלאות תפקיד קריטי, הן במשקי הבית והן בעסקים בהחלטה כמה להוציא, להשקיע, להעסיק או לפטר.”
“שקיפות היא היבט חשוב במדיניות מוניטרית בחברה דמוקרטית.”
“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.”
“During the 1970s, inflation expectations rose markedly because the Federal Reserve allowed actual inflation to ratchet up persistently in response to economic disruptions - a development that made it more difficult to stabilize both inflation and employment.”
“When I was very young, my father had an accident. He fell down a flight of stairs, fractured his skull, and lost sight in one eye.”
“People stop buying things, and that is how you turn a slowdown into a recession.”
“To me, the greatest asset of the Fed is the people. We have a tremendously dedicated staff... They feel proud to work for the Fed because this is such a competent, professional and well-respected organization.”
“Models used to describe and predict inflation commonly distinguish between changes in food and energy prices - which enter into total inflation - and movements in the prices of other goods and services - that is, core inflation.”
“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.”
“The Federal Reserve's monetary policy objective is to foster maximum employment and price stability. In this regard, a key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goal.”
“Financial market participants appear to recognize the FOMC's data-dependent approach because incoming data surprises typically induce changes in market expectations about the likely future path of policy, resulting in movements in bond yields that act to buffer the economy from shocks.”
“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.”