Posts Tagged ‘janet yellen’

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Janet Yellen: Immigration Growth Rate

Posted by admin on Wednesday, June 7, 2017

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 Quote
 

“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

 

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In this quote, former Federal Reserve Chair Janet Yellen is explaining the economic impacts of reducing immigration levels. She notes that the U.S. economy has been growing slowly in recent years. Yellen then states that immigration has served as “an important source of labor-force growth,” meaning it has helped the workforce expand by adding new immigrant workers.

She goes on to say that “slowing the pace of immigration probably would slow the growth rate of the economy.” In essence, Yellen is arguing that cutting back on immigration would likely cause the overall economy to grow at an even slower pace by diminishing the supply of new workers entering the labor market and contributing to economic activity. Her assessment is that immigration is helping boost sluggish growth.

Janet Yellen: Bitcoin Not Monetary Policy

Posted by admin on Thursday, November 5, 2015

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

“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

 

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Janet Yellen is saying that Bitcoin is not associated with or related to the Federal Reserve’s decisions around monetary policy. The Federal Reserve is responsible for monetary policy in the United States, while Bitcoin is a decentralized cryptocurrency not controlled by any central bank.

Janet Yellen: Congress Pass a Budget

Posted by admin on Sunday, September 20, 2015

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

“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

 

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In this quote, Janet Yellen is expressing her view that it is Congress’s responsibility to take certain fiscal actions that are important for economic governance. She specifically calls out Congress’s duty to “pass a budget to fund the government,” referring to passing annual spending bills.

She also mentions Congress must “deal with the debt ceiling so that America pays its bills.” This relates to the need for Congress to periodically raise the debt limit so the U.S. can continue servicing its debt obligations.

Overall, Yellen is reinforcing the notion that according to the Constitution, it is the legislative branch’s job to make decisions around funding the government, debt, and ensuring financial obligations are met through these types of legislative acts. She is reminding Congress that taking timely action on these matters is their mandated responsibility.

Bagley-GOP-Budget-Poor-Rich

Pat Bagley, Salt Lake Tribune


 

Janet Yellen: Trepidation in 2009

Posted by admin on Thursday, March 5, 2015

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:
 
Janet Yellen Things are now so bad that I actually open economic projections with greater trepidation than my 401k quote
 

“Things are now so bad that I actually open economic projections with greater trepidation than my 401(k)” — Janet Yellen

 

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In this quote, Janet Yellen is expressing how seriously she takes her role in analyzing the economy and projecting its path. She says that when reviewing economic forecasts, she does so with even “greater trepidation” than checking her own 401(k) retirement account balance.

This suggests that as Federal Reserve Chair, she felt an immense sense of responsibility to accurately gauge the economy’s direction. By comparing her concern for economic projections to the worry many feel looking at their retirement savings, Yellen conveys how consequential getting the analysis right was.

Overall, the quote underscores Yellen’s commitment to her position and emphasizes how weighty she viewed assessing the economy’s condition.

Janet Yellen on Wealth Inequality History

Posted by admin on Thursday, October 23, 2014

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:
 
Janet Yellen income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that time span quote
 

“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

 

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In this quote, Janet Yellen is referring to studies that have found income and wealth inequality in the United States are currently approaching the highest levels observed in the past century according to some metrics.

She notes inequality is much higher than the average levels seen over the past 100 years, and likely higher than for most of American history prior to that as well.

Yellen appears to be underscoring that by various measures, the current gaps between the richest members of society and everyone else in terms of both earnings and accumulated wealth are extraordinarily large by historical standards.

The quote implies tackling inequality should be a priority public policy issue given its magnitude exceeds what has typically been seen in the country based on economic analyses spanning decades or centuries.

Janet Yellen: Wealthiest 5% Hold 2/3 Assets

Posted by admin on Wednesday, October 22, 2014

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

“[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

 

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In this quote, Janet Yellen is pointing out that a significant source of wealth for many families comes from their holdings of various financial assets like stocks, bonds, mutual funds, and private pensions. She then notes that according to 2013 data, the wealthiest 5% of households owned nearly two-thirds of all such financial assets.

Yellen appears to be highlighting the large degree of wealth inequality in America, with a relatively small portion of the population controlling the majority share of financial wealth.

The quote draws attention to the fact that financial market investments serve as an important store of value for families, but that this type of wealth is very concentrated among the highest-income households in the United States.

Janet Yellen: 50% Inheritances to Top 5%

Posted by admin on Tuesday, October 21, 2014

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

“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

 

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In this quote, Janet Yellen is providing statistics about the distribution of inheritances among American households. She states that just over half of the total value of all inheritances went to the top 5% highest-earning households. Additionally, she notes that the next 45% of households (those between the 5th and 50th percentiles) received 40% of the total inheritance value.

This quote suggests there is significant inequality in the receipt of intergenerational wealth transfers like inheritances. Yellen’s figures indicate that the top half of households in terms of income receive the vast majority of bequests from deceased family members. The quote sheds light on how concentrated inheritance wealth is among higher-income families in the United States.

Janet Yellen: Widening Wealth Gap

Posted by admin on Monday, October 20, 2014

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
 
Janet Yellen 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 quote
 

“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

 

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In this quote, Janet Yellen is observing that income and wealth inequality have been increasing steadily in the United States for decades. She notes this widening disparity has been occurring to a larger degree than in most other advanced economies.

By referring to the “distribution” of income and wealth, she means the gap between those with more and less of these financial resources. Yellen appears to be highlighting that the divide between rich and poor has been growing continuously and more sharply in the U.S. compared to peer nations.

The quote suggests rising inequality has been an ongoing trend according to economic data. Overall, she is drawing attention to America’s widening chasm in incomes and household net worth over a prolonged period.

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