Janet Yellen: “I strongly endorse, and the FOMC strongly endorses following a systematic policy.”

The tax cuts passed by Donald Trump and Congressional Republicans... was responsible for many of the problems that we face now with our fiscal trajectory.

I am optimistic, because I believe that the big inflationary impulse that we saw in 2022 largely was global.

The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.

There will be a negotiation over what to do when these tax cuts expire.