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Meaning
The quote argues that it can sometimes be sensible to tolerate inflation above the target level instead of reacting to it too aggressively. It suggests that a humane policy may prioritize broader economic conditions over strict inflation control. The wording also implies that policy should be flexible rather than automatic.
When It Was Said
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Who It Was Said To
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Historical Context
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Source
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Original Language & Translation
Originally said in English.
Did They Really Say It?
No source found on Wikiquote; the quote is listed as attributed.
Did You Know?
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About Janet Yellen
American economist
Janet Yellen is an American economist and public official, known for serving as the 78th United States secretary of the treasury from 2021 to 2025 and as the 15th chair of the Federal Reserve from 2014 to 2018. She was the first woman to hold either post. She has also led the White House Council of Economic Advisers. Yellen is professor emeritus at the University of California, Berkeley, where she joined the faculty in 1980 and held the Eugene E. and Catherine M. Trefethen professorship in business administration and economics. Her career is closely tied to economic policy, central banking, and academic economics.
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