Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not.
Janet YellenAfter adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison, the average real income of the other 95% of households grew less than 10%.
Janet YellenI'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.
Janet YellenThe lower half of households by wealth held just 3% of wealth in 1989 and only 1% in 2013.
Janet Yellen