American - Public | August 13, 1946 -
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
Janet Yellen
WorkTechnologyKnowledgeQuality
I want to be completely clear that I strongly oppose 'Audit the Fed.'
WantAuditClearOpposeFed
It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming.
ImportantHardBubblesAssetAttempt
Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
EconomyUnemploymentLong-TermEven
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?
WorkBehaviorFeelEmployeesQuit
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential approach to supervision and regulation needs to play the primary role.
BelieveFinancialResultPlayRole
Monetary policy will, as always, respond to the economy's twists and turns so as to promote, as best as we can in an uncertain economic environment, the employment and inflation goals.
GoalsBestEnvironmentWillEconomy
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.
WiseMeRiseTargetPolicyAbove
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
WorkFinancialHelpGoalWallOur
Housing wealth - the net equity held by households, consisting of the value of their homes minus their mortgage debt - is the most important source of wealth for all but those at the very top.
ValueWealthImportantDebtMortgage
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.
BankPureEmploymentInflationJust
Sometimes you have to make decisions without knowing all that you would like to know That's part of the job.
JobDecisionsYouKnowSometimes
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