Eventually debt-to-GDP will begin to rise and deficits will increase again as the population ages and Medicare, Medicaid, and Social Security get to be a larger share of GDP under current programs.
Janet Yellen
The Public Record
Janet Louise Yellen is an American economist currently serving as the 78th United States Secretary of the Treasury, a position she has held since January 26, 2021. She is a member of the Democratic Party and has a distinguished career in economic policy and public service. Yellen previously served as the Chair of the Federal Reserve from 2014 to 2018, becoming the first woman to hold that role. During her tenure at the Federal Reserve, she focused on issues such as unemployment and inflation, advocating for policies aimed at economic recovery following the 2008 financial crisis.
I think Congress has made painful decisions that have now really stabilized, brought down the deficit very substantially and stabilized for a number of years the debt-to-GDP ratio.
As the FOMC stated in 2012, I believe, we issued a set of exit principles in which one of the principles was that over time we sought to normalize the size of our balance sheet and to bring it down to the smallest level consistent with the…
The existence of such a large pool of partly unemployed workers is a sign that labor conditions are worse than indicated by the unemployment rate.
I do not favor expanding the Fed's discount window to broker-dealers and nonbanks.
Even after the Committee ends these purchases, the Federal Reserve's sizable holdings of longer-term securities will help maintain accommodative financial conditions, thus supporting further progress in returning employment and inflation…
I hope we are on a solid course of recovery and that it will continue and not encounter some serious setback.
Not only would this increase the costs of hedging, which means higher prices for consumers, but it also restricts capital that would otherwise be used for job creation or reinvestment.
We certainly do not want to see billions of dollars sucked out of the economy to post unnecessary margin.
If anything, the data say we should have had even more stimulus in response to the recession, and that pulling back too soon now risks undoing the progress we've made so far.
No central bank in the world follows a mechanical mathematical rule, and I think it would be a terrible mistake to ask the Federal Reserve to specify a mathematical rule.
I feel that a fundamental responsibility of the United States Senate is to analyze and approve of a person to fill a position that was created with the requirement of a Senate confirmation.
I believe with respect to designation that each unique company that is under consideration needs to be carefully evaluated in detail.
America has come a long way since the dark days of the financial crisis, and small businesses deserve a considerable share of the credit for the investment and hiring that have brought that progress.
I do think it's appropriate for us to make changes, and I fully expect that we will.
I hope that you and society at large will make sure that she has access to a good college education.
We have indicated that as long as we continue to see improvements in the labor market... we anticipate continuing to reduce the pace of our asset purchases in measured steps.
I agree that it is appropriate for the Board of Governors to be fully involved in important decisions relating to the enforcement and supervisory matters.
The Collins Amendment does restrict what is possible for the Federal Reserve.





