Although we work through financial markets, our goal is to help Main Street, not Wall Street.
Janet YellenRead
Inequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people.
Interpretation
Janet Yellen suggests that addressing economic inequality could benefit a larger segment of the population.
In this quote, Janet Yellen emphasizes the growing concern of economic inequality in the U.S. and underscores the importance of reevaluating economic policies. She advocates for taking calculated risks in order to create a more equitable economy that rewards a greater number of people, suggesting that this is a necessary step toward social and economic stability.
In practice
Discussing economic reforms in a political debate.
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.
A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms - have found it easier to continue producing by - with - reducing their workforces.
In government institutions and in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and why. The same principles apply to businesses.
If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
I know of no example in time or place of a society that has been marked by a large measure of political freedom, and that has not also used something comparable to a free market to organize the bulk of economic activity.
Living capital, which has the special capacity to continuously regenerate itself, is ultimately the source of all real wealth. To destroy it for money, a simple number with no intrinsic value, is an act of collective insanity - which makes capitalism a mental, as well as physical pathology.
The only way to make sure no bank is too big to fail is to make sure no bank is too big.
Large fortunes are all founded either on the occupation of land, or lending or the taxation of labor.
No country, however rich, can afford the waste of its human resources. Demoralization caused by vast unemployment is our greatest extravagance. Morally, it is the greatest menace to our social order.
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