Although we work through financial markets, our goal is to help Main Street, not Wall Street.
Janet YellenRead
A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.
Interpretation
The key to recovering from a financial crisis is to fully address and fix the financial system.
Janet Yellen emphasizes that history has shown us that a crucial requirement for lasting economic recovery after a financial crisis is a comprehensive overhaul of the financial system. This indicates that merely addressing superficial issues is insufficient; instead, a deep and thorough repair is necessary to foster stability and growth in the economy.
In practice
A speaker at an economic conference might use this quote to emphasize the need for systemic reforms in the financial sector.
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
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.
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 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.
What brought mass innovation to a nation was not scientific advances - its own or others' - but 'economic dynamism': the desire and the space to innovate.
In time of peace there can, at all events, be no justification for the creation of a permanent debt by the Federal Government. Its limited range of constitutional duties may certainly under such circumstances be performed without such a resort.
Markets can influence the events that they anticipate.
During the two centuries since the publication of 'The Wealth of Nations,' the main activity of economists, it seems to me, has been to fill the gaps in Adam Smith's system, to correct his errors and to make his analysis vastly more exact.
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
Hillary Clinton understands that if someone in America this country works 40 hours a week, that person should not be living in poverty. She understands that we must raise the minimum wage to a living wage.
Subscribe for the occasional hand-picked quote. No noise.