Janet Yellen: “I believe strongly that a diversified set of financial institutions is best for America.”

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

I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.

The Fed does not have a 'good handle on how the tariffs are going to affect either spending in the labor market or inflation.'

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.