We need to increase the transparency of shadow banking markets so that authorities can monitor for signs of excessive leverage and unstable maturity transformation outside regulated banks.
Janet YellenLong-term unemployment can make any worker progressively less employable, even after the economy strengthens.
Janet YellenIndividuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also lose the habits needed to hold down any job.
Janet YellenThe lower half of households by wealth held just 3% of wealth in 1989 and only 1% in 2013.
Janet YellenStrapped by tight credit and plummeting sales, businesses have overhauled the way they manage supply chains, inventory, production practices, and staffing.
Janet YellenIn 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions.
Janet Yellen