Janet Yellen

I recognize that regulatory burden is a significant issue for many banks.

We certainly felt in December when we made our decision to raise rates that the economy was recovering, that inflation would move up, and it would likely be appropriate to gradually continue to raise rates, not to cut them.

It certainly helps. We have also put in place requirements for adequate--our so-called TLAC rules for adequate loss absorbency.

I am certainly willing to work with you on that, but as your comment indicated, you recognize the importance of independence for regulatory agencies that we not be subject to executive branch review.

There has been consolidation. We are concerned about the burdens on community banks

House prices are recovering. They have increased quite a bit, and I think that is helping the financial situation of many households.

I would like to distinguish between a systematic approach to monetary policy, which I believe we have put in place, and a system that we use that is in line with what other advanced central banks do and a mechanical, mathematical…

I do think we have made very substantial strides toward dealing with it, toward addressing it.

So it is up to Congress to decide----if changes are necessary.

On balance, I would say it is still true for the United States.

So we are seeing a recovery, I would say, in housing. It has gone on now for a number of years, but it is very, very gradual.

More jobs are good for the economy.

Senator, yes, I agree with what you said.

Each member of the Board of Governors and members of the FDIC Board are charged with arriving at our own individual judgments as to whether or not these living wills are credible or facilitate resolution, and I cannot guarantee you that we…

I want to be careful. I think that Governors certainly are entitled--they have substantial responsibilities.

Monetary policy will be set and calibrated to do the best we can to achieve our congressionally mandated objectives.

We only want to move to more normal levels of interest rates if it is consistent with achieving our objectives of 2 percent inflation and maximum employment.

It is essentially a theory that fits reasonably, but certainly not perfect, explaining the inflation process.

Well, from my point of view, and I think from the point of view of the FOMC, more jobs are always good, employment is good.

It is critically important to make sure that they hold more capital liquidity.

I think we cannot be satisfied that we have full employment without full employment across demographic lines, meaning women and minorities, especially.

Job creation has perhaps been more heavily skewed toward sectors that have lower pay

Consumer protection is a very important part of our supervision

The downturn probably accelerated those trends that perhaps relate to globalization and technological change that are demanding increased skill

These standards, which changed little since the draft was released a few years prior, unfortunately fall short of what is necessary to achieve real progress.