Janet Yellen Quotes

Better-paid workers buy more goods and services, increasing aggregate demand and baking a bigger economic pie for everyone.

It's not about the pace, it's about the direction we've set. The pace is of course a function of many factors, including the magnitude of the supply shock. But what's probably more important is the probability of the supply shock translating into sustainable embedded inflation.

There is no limit to the amount of money that can be created by the banking system, but there are limits to our productive facilities and our labor supply ...

Experience shows that high and unstable inflation can harm growth. A noninflationary macroeconomic policy is, therefore, a prerequisite for rapid development. Control of government borrowing is the crucial element in such a policy. When public borrowing is excessive, governments are soon obliged to finance it by printing money, and rising inflation then follows.

The Federal Reserve's monetary policy objective is to foster maximum employment and price stability. In this regard, a key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goal.

As America's head coach, President Obama needs to make some big and smart adjustments to jump-start economic growth and business investment, stimulate job creation, and get wages up for ordinary Americans.

I never liked quantitative easing. It's misunderstood by almost everybody. Flattening the yield curve is not stimulative; flattening the yield curve is anti-stimulative.

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

We're facing headwinds from Europe. Europe doing the right things here to stabilize their situation is important to our small businesses, our workers, the middle class here, and overall economy.

The human world lives in a framework called global economics. We live in a system based on GDP, which drives consumption. it causes people to compete with each other through trade in a way that they all grow.

I am in favor of high wages and agree that the higher the wages, the stronger the evidence of prosperity, provided (and that is the important point) they are so naturally, by the effectiveness of industry, and not in consequence of an inflated currency or any artificial regulation.

But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation.

Domestic inflation reflects domestic monetary policy.

People want to think of economics as a natural science, like physics, with the comforting reliability of simple-to-understand theories like F=MA. Unfortunately, it isn't. Economics is a social science, and the so-called theories are really social and moral constructs.

People forget how difficult it is to stop inflation or get it under control… I worry about it all the time.

You have to change people’s minds to stop inflation.

The bottom line of a successful economic policy is jobs.

Growth is good for this society as long as it doesn't pass the point of tripping off inflation.

The rich countries seem to need 5 or 6 percent unemployment to make the economy hum.

To reduce inequality, employment must be sustained by appropriate macroeconomic policy.

Having a little inflation is like being a little bit pregnant.

it seems to me absolutely scandalous to try to set wage levels which wipe out jobs. I mean these are people who are not on the dole. They want to work and if you price them out of the market, its gonna be a lot worse for them and for the economy.

The natural tendency of the state is inflation.

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. ... A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.

Monetary stability is a cornerstone of the social contract.