Janet Yellen

I completely agree with his assessment.

I know it has been alleged that that was a weakening of the requirements. It absolutely was not in any way a weakening of our requirements.

I think that we have improved capital standards by raising the quantity and quality of capital we demand particularly of the most systemic organizations.

I strongly doubt that is our policy.

I might have some concern with that.

We regard our emergency lending powers as very crucial powers.

I would see such a process as inhibiting our ability to take timely and necessary supervisory actions to address a firm's risk.

I will certainly look into that.

Private citizens can interact with Members of Congress--

At present, every firm over $50 billion has to do things like supervisory stress testing...

I guess the reason I would be open to it is that... the costs exceed the benefits.

Our economy has made progress towards the Fed's objective of maximum employment.

During the crisis and recession, families in the middle and at the bottom were hit particularly hard.

For the vast majority of families, it's been a long time since they've seen a meaningful raise.

The results were predictable--incomes grew at the very top, but stagnated for everyone else.

Before the financial crisis under President Bush, our country saw policies of 'trickle-down economics,' focused on tax benefits for individuals at the top of the distribution and budget cuts for everyone else.

I look forward to working with you and the Committee.

Policies or governmental actions that create uncertainty...are not helpful to recovery.

I do think that education programs...are very critical in addressing wage inequality.

I would be concerned about something that was a large fiscal shift.

I would expect to see some further upward movement.

So like Governor Tarullo, I would be open to a modest increase in the threshold.

At the same time, inflation is very low, and while we have indicated that a good share of that is for reasons we believe will be transitory...

We are certainly trying to put in place a set of incentives that will reduce the systemic footprint and risk of firms.

So, of course, there are risks to the recovery of tightening too soon, and we have been highly focused on those risks.