Quotes by Janet Yellen

Janet Yellen

[A] major source of wealth for many families is financial assets, including stocks, bonds, mutual funds, and private pensions. …the wealthiest 5 percent of households held nearly two-thirds of all such assets in 2013

Financial

Two

Wealth

After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison, the average real income of the other 95% of households grew less than 10%.

Average

Income

Real

Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the labor market and enable efficiency-enhancing changes in relative pay to occur without requiring nominal wage cuts by workers.

Cutting

Grease

Yale

Are deviations from full employment a social problem? Obviously.

Employment

Problem

Social

By some estimates, income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that time span and probably higher than for much of American history before then.

Average

Past

Years

Firms don’t just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm’s behalf if they feel that wage policies are unfair?

Body

Cutting

Trying

For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.

Agency

Appreciate

Risk

I am anxious to fix welfare. There has to be more training and child care.

Care

Children

Training

I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.

Opportunity

Thinking

Trends

I would be strongly committed to working with the FOMC to continue promoting a robust economic recovery … I consider it imperative that we do what we can to promote a very strong recovery.

Recovery

Strong

Would Be

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Agency

Appreciate

Average

Banking

Believe

Bitcoin

Boards

Body

California

Capitalist Economy

Care

Children

Couple

Cutting

Decision

Economy

Employment

Financial

Gains

Giving

Goal

Government

Graduation

Grease

Growth

Habit

Half

Home

House

Humility

Income

Inflation

Inspire

Inventory

Jobs

Judging

Lines

Listening To Others

Long

Majority

Maturity

Mean

Negative

Opportunity

Order

Painful

Past

People

Popularity

Practice

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Quotes by Janet Yellen

Janet Yellen

[A] major source of wealth for many families is financial assets, including stocks, bonds, mutual funds, and private pensions. …the wealthiest 5 percent of households held nearly two-thirds of all such assets in 2013

After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison, the average real income of the other 95% of households grew less than 10%.

Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the labor market and enable efficiency-enhancing changes in relative pay to occur without requiring nominal wage cuts by workers.

Are deviations from full employment a social problem? Obviously.

By some estimates, income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that time span and probably higher than for much of American history before then.

For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.

I am anxious to fix welfare. There has to be more training and child care.

I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.

I would be strongly committed to working with the FOMC to continue promoting a robust economic recovery … I consider it imperative that we do what we can to promote a very strong recovery.

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Topics by Janet Yellen

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