[A] major source of wealth for many families is financial assets, including stocks, bonds, mutual funds, and private pensions. ...the wealthiest 5 percent of households held nearly two-thirds of all such assets in 2013
Janet YellenThe past few decades of widening inequality can be summed up as significant income and wealth gains for those at the very top and stagnant living standards for the majority.
Janet YellenMy bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.
Janet YellenIf it were possible to take interest rates into negative territory I would be voting for that.
Janet Yellen