Quotes from Janet Yellen

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%.

My parents were born in 1906 and 1907. I think the experience of the Depression greatly influenced the way they thought about the world.

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.

Yankee Stadium is a natural venue for another lesson: You won't succeed all the time. Even Ruth, Gehrig, and DiMaggio failed most of time when they stepped to the plate. Finding the right path in life, more often than not, involves some missteps.

I continue to think many of the factors holding down inflation are transitory... We want to be careful not to jump to a premature conclusion about what's in store for the U.S. economy.

I've been collecting rocks since I was 8 and have over 200 different specimens.

Financial market participants appear to recognize the FOMC's data-dependent approach because incoming data surprises typically induce changes in market expectations about the likely future path of policy, resulting in movements in bond yields that act to buffer the economy from shocks.

To me, the greatest asset of the Fed is the people. We have a tremendously dedicated staff... They feel proud to work for the Fed because this is such a competent, professional and well-respected organization.

An important factor influencing intergenerational mobility and trends in inequality over time is economic opportunity.

Sometimes you have to make decisions without knowing all that you would like to know That's part of the job.

When you hire a nanny, the question you ask yourself is, 'What's best for my precious child?' And do you really want someone who feels that your motive in life is to minimize the amount you spend on your child?

If we were to raise interest rates too steeply, and we were to trigger a downturn or contribute to a downturn, we have limited scope for responding, and it is an important reason for caution.

We're charged by Congress with regulating financial institutions. We take that mission seriously. We are tough supervisors and regulators.

Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns.

Maturity transformation is a central part of the economic function of banks and many other types of financial intermediaries.

The outlook for the economy, as always, is highly uncertain.

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.

Increased business sales would almost certainly raise the productive capacity of the economy by encouraging additional capital spending, especially if accompanied by reduced uncertainty about future prospects.

We necessarily operate in an environment in which there's a great deal of uncertainty. In such an environment, it makes sense to use a risk-management approach to identify and avoid the big mistakes. That's one reason I favor a cautious approach.

Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.

When you're unemployed for six months or a year, it is hard to qualify for a lease, so even the option of relocating to find a job is often off the table.

Policy makers should be compelled to take action given the serious costs of long-term unemployment when overall unemployment is already high. A week of unemployment is worse when it is experienced as part of a longer spell.

Expanded credit access has helped households maintain living standards when suffering job loss, illness, or other unexpected contingencies.

Academia is very flexible, but I had a spouse who was very committed to being a completely full partner in our marriage. I think if you counted up how many hours each one of us logged in, he certainly gets more than 50%.