Although we work through financial markets, our goal is to help Main Street, not Wall Street.
Janet YellenRead
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.
Interpretation
Janet Yellen suggests that addressing economic inequality could benefit a larger segment of the population.
In this quote, Janet Yellen emphasizes the growing concern of economic inequality in the U.S. and underscores the importance of reevaluating economic policies. She advocates for taking calculated risks in order to create a more equitable economy that rewards a greater number of people, suggesting that this is a necessary step toward social and economic stability.
In practice
Discussing economic reforms in a political debate.
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.
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.
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.
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.
We plutocrats need to get this trickle-down economics thing behind us: this idea that the better we do, the better everyone else will do. It's not true. How could it be? I earn 1,000 times the median wage, but I do not buy 1,000 times as much stuff, do I?
One-sided national economic triumphs cannot be achieved in the increasingly interwoven global economy without precipitating calamitous consequences for everyone.
It's important that we invest in America - literally. The terrorists wanted to destroy our economy, and we can't let our system fall apart. We also have to invest in one another.
The hidden hand of the market will never work without a hidden fist -- McDonald's cannot flourish without McDonnell Douglas, the builder of the F-15. And the hidden fist that keeps the world safe for Silicon Valley's technologies is called the United States Army, Air Force, Navy and Marine Corps.
There can be economy only where there is efficiency.
The market economy-capitalism-is a social system of consumers' supremacy.
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