Janet Yellen: Immigration Growth Rate

Janet Yellen Money Quote saying the growth of the labor force helps the economy to grow, so when immigration declines, so does economic growth. Janet Yellen said:

Our economy has been growing at a slow pace. Immigration has been an important source of labor-force growth. So slowing the pace of immigration probably would slow the growth rate of the economy
— Janet Yellen

Janet Yellen: Bitcoin Not Monetary Policy

Janet Yellen Money Quotation saying cryptocurrency is not associated with federal reserve policy decisions. Janet Yellen said:

We do not interpret bitcoin’s popularity as having a relationship with the public’s view of the Federal Reserve’s conduct of monetary policy
— Janet Yellen

Janet Yellen: Congress Pass a Budget

Janet Yellen Money Quotation saying government legislators are expected to do their jobs budgeting & setting our national debt ceiling. Janet Yellen said:

I believe it’s the responsibility of Congress to pass a budget to fund the government, to deal with the debt ceiling so that America pays its bills
— Janet Yellen

Pat Bagley, Salt Lake Tribune

Janet Yellen: Trepidation in 2009

Fed Chair Janet Yellen in 2009 Money Quotation saying she was nervous about seeing guidance from the Federal Reserve team during beginning of economic crisis. Fed Chair Janet Yellen in 2009 said:

Things are now so bad that I actually open [Fed’s staff] economic projections with greater trepidation than my 401(k)

— Janet Yellen (2009)

Janet Yellen on Wealth Inequality History

Janet Yellen Money Quotation saying the past century has seen wealth move toward the top out of the hands of those in the middle. Janet Yellen said:

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 — Janet Yellen

Janet Yellen: Wealthiest 5% Hold 2/3 Assets

Janet Yellen Money Quotation saying the richest five percent hold two thirds of financial assets in the United States. Janet Yellen said:Janet Yellen said:

[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
— Janet Yellen

Janet Yellen: 50% Inheritances to Top 5%

Janet Yellen Money Quotation saying wealth willed to top 5% represents half of all inherited money, staying within already rich families. Janet Yellen said:

Just over half of the total value of inheritances went to the top 5 percent and 40 percent went to households in the next 45%
— Janet Yellen

While we’re on that topic – here’s an exercise to ask how you might behave if you received a sudden and unexpected large inheritance. Tell us in the comments what you would do – even in rich detail if you like. We may post it for our readers.

The unexpected family inheritance will let me (Blank)

Janet Yellen: Widening Wealth Gap

Janet Yellen Money Quotation saying wealth distribution has become top heavy toward the rich to the point of looking like a third-world economy. Janet Yellen said

The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries
— Janet Yellen