Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not.
Janet YellenFor my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.
Janet YellenLong-term unemployment can make any worker progressively less employable, even after the economy strengthens.
Janet YellenI think it is appropriate to ask whether this trend is compatible with values rooted in our nation's history, among them the high value Americans have traditionally placed on equality of opportunity.
Janet Yellen