Janet Yellen

I strongly support continued research to assist policymakers in understanding how successful community banks can contribute to the health of the U.S. economy.

we need to take all of those things into account.

the unemployment rate is not the Committee's definition of what constitutes full employment.

I think almost all economists think that the minimum wage has two main effects: one is to give higher wages to those who continue to have jobs and were earning the minimum wage; and then, second, that there would be some amount of negative…

I strongly support and would urge the Congress to address the issue of GSE reform.

I cannot give you a date certain, but----

I do not see those excesses having developed at this point.

Sometimes the long-term unemployed do need to acquire different skills in order to be reabsorbed into the job market.

We need an accommodative policy.

I will discuss with my colleagues what is appropriate. I do not have a definitive answer for you.

I think it is also appropriate for Congress to look at what some of the special needs of long-term unemployed are.

we see absolutely no need to consider any possibility of raising rates.

There are a number of ways, the asset liability matching separate accounts and so forth, that require tailored design of capital and liquidity requirements so they are appropriate to those business models.

Over the last 20 years, the top 1 percent of earners has grown by more than 86 percent while incomes for the remaining 99 percent have grown by less than 7 percent.

So the Fed continues to think that end users do not pose systemic risks, and we will come back and will be crafting a rule in light of the international negotiations.

I completely agree with you that community banks were not the source of the financial crisis, and my colleagues and I do not want to see them caught up in unnecessary regulatory burden.

I would not favor trying to raise our inflation objective above where it is.

I agree with you, I am very concerned about trends toward rising income inequality in the country.

I pledge that I will continue to work with my colleagues to do all that we can to make sure that we reduce the burdens on these community banks and do not in any way have a one-size-fits-all approach.

We are on the order of 35 percent, and that is--of all those unemployed more than 6 months, and that is a very disturbing trend.

I think it is essential that the path of debt to GDP be one that is sustainable over time.

We have seen that deflation is associated with very weak outcomes, economic outcomes, in the rare situations where it has occurred.

Whenever we put out a regulation--an example would be our recent capital regulations implementing Basel III--we put out a special guide to show what is relevant to community banks, that they can ignore and are not affected by the rest.

First of all, it raises the real or inflation-adjusted cost of capital, and it also redistributes debt burdens.

We are certainly trying to be faithful to the intent of this rule, which is to eliminate short-term financial speculation in institutions that enjoy the protection of the safety net.