Explore Quotes by Janet Yellen

It certainly would be helpful going forward for deficit reduction efforts to focus on the medium term while not subtracting from the impetus we need to keep a fragile economy moving forward.

As a general principle, the American people would be well served by the active pursuit of effective policies to support longer-run growth in productivity.

It is hard to have great confidence in predicting what market reactions to Fed decisions will be.

Paying interest on reserve balances enables the Fed to break the strong link between the quantity of reserves and the level of the federal funds rate and, in turn, allows the Federal Reserve to control short-term interest rates when reserves are plentiful.

I felt that the Fed had always been the agency that picked up the pieces when there was a financial crisis, and it was invented to do exactly that.

It's important for market participants to have a sense of how we think about the economy and the appropriate path of policy, to look at incoming data, and to form their own judgments as to whether or not changes in policy would be appropriate.

For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms - have found it easier to continue producing by - with - reducing their workforces.

In effect, there has been a significant shortfall in the overall amount of monetary policy stimulus since early 2009.

Expanded credit access has helped households maintain living standards when suffering job loss, illness, or other unexpected contingencies.

The financial sector is vital to the economy. A well-functioning financial sector promotes job creation, innovation, and inclusive economic growth.

We have put in place policies through supervision and regulation that has greatly enhanced the safety and soundness of the banking system.

An important factor influencing intergenerational mobility and trends in inequality over time is economic opportunity.

Our ability to predict how the federal funds rate will evolve over time is quite limited because monetary policy will need to respond to whatever disturbances may buffet the economy.

If strong economic conditions can partially reverse supply-side damage after it has occurred, then policymakers may want to aim at being more accommodative during recoveries than would be called for under the traditional view that supply is largely independent of demand.

It's appropriate for the Fed to gradually and cautiously increase our overnight interest rate over time.

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.

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.

Private sector labor market flows provide additional indications of the strength of the labor market. For example, the quits rate has tended to be pro-cyclical, since more workers voluntarily quit their jobs when they are more confident about their ability to find new ones and when firms are competing more actively for new hires.

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.

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.

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.