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My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.

Janet Yellen

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Janet Yellen
Age: 78
Born: 1946
Born: August 13
Banker
Economist
Politician
Professor
Brooklyn
New York
Janet Louise Yellen
Janet L. Yellen
Janet L Yellen
House
Affect
Monetary
Central
Inflation
Rising
Prices
Bottom
React
Line
Employment
Policy
Assets
Insofar
Lines
Houses
Output
Goal
Bank
Variables

More quotes by Janet Yellen

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It slightly worries me that when people find a problem, they rush to judgment of what to do.
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I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.
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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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Stores don't order merchandise unless they think they can sell it right away. Manufacturers and builders don't produce unless they have buyers lined up. My business contacts describe this as a paradigm shift and they believe it's permanent.
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Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
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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.
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Productivity growth, however it occurs, has a disruptive side to it. In the short term, most things that contribute to productivity growth are very painful.
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I am anxious to fix welfare. There has to be more training and child care.
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Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not.
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Are deviations from full employment a social problem? Obviously.
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If it were possible to take interest rates into negative territory I would be voting for that.
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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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Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also lose the habits needed to hold down any job.
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