Janet Yellen

Americans can be confident that the FOMC has both the ability and the will to prevent inflation.

Now, the Fed contends that its policy of quantitative easing does not present a serious inflation risk.

Thank you so much for being willing to consider taking on this role at the Fed and bringing your expertise to bear.

I absolutely feel that that is essential and appropriate, yes.

I think our objective in regulation should be to put in place tough enough regulations and capital and liquidity standards that would level the playing field.

Dodd-Frank put into place an agenda that... should make a very meaningful difference in terms of too big to fail.

I sent a letter along with Sen. Johanns in July of 2012 to President Obama calling attention to this statutory requirement.

I think we failed completely to understand the complexity of what the impact of a decline, a national decline in housing prices would be in the financial system.

We are being asked in this bill, appropriately so, to raise capital standards and liquidity standards for these institutions.

I would describe the guidance that came out as weak and the material loss reviews that have been done of the institutions that we supervise essentially say that this was the pitfall.

We must work together and in cooperation with central banks and governments around the world to mitigate systemic risk in the financial and payment systems.

I strongly support the Fed's dual mandate and pay close attention to both inflation and employment at all times.

We have enormous responsibilities that will be given to us under this legislation.

I believe guidance came out in 2006, I believe it was, to the supervisors and to banks stating essentially that banks with high exposures needed to carefully manage risks around these exposures.

I agree with Chairman Bernanke that an increase in the long-run inflation objective to 4 percent would be a risky policy strategy.

I think we were monitoring housing prices very carefully and became concerned certainly by 2005 that there might well be a bubble in the housing market.

I think personally I gave speeches in 2005 warning of that possibility.

The Federal Reserve has just concluded actually on Tuesday 40-odd sessions we have had around the country

The first key challenge will be to improve our supervision particularly of the largest and most complex bank holding companies.

I would hope that going forward, one thing we have learned from this crisis is there is a need for all of us in regulation to act in a timely way to take away the punch bowl and to require more stringent capital requirements.

I am honored to appear before you as President Obama's nominee to serve as a member and Vice Chair of the Board of Governors of the Federal Reserve System.

I am wholeheartedly committed to pursuing the Federal Reserve's Congressionally mandated goals of maximum employment and price stability.

We have learned a harsh lesson about the dire consequences a financial crisis has for ordinary Americans in the form of lost jobs, lost homes, lost wealth, and lost businesses.