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There is always some chance of recession in any year. But the evidence suggests that expansions don't die of old age.
Janet Yellen
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Interpretation

What this quote means

Recessions are inevitable, but economic expansions typically continue unless disrupted by significant events.

Janet Yellen's quote emphasizes the cyclical nature of the economy, indicating that while recessions can happen unexpectedly in any given year, periods of economic growth (expansions) generally do not end simply due to the passage of time. Instead, expansions often continue until they are interrupted by external factors such as financial crises or policy changes, suggesting a more resilient nature of growth compared to the occurrence of downturns.

Themes

EconomyRecessionExpansionGrowthCycles

In practice

Example use cases

In a financial seminar discussing market trends, one might quote Yellen to highlight the resilience of economic growth.

More from Janet Yellen

Although we work through financial markets, our goal is to help Main Street, not Wall Street.
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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.
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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.
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