Fed's Yellen speech: Given current taxing and spending decisions, debt is unsustainable
|Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from Congress members with the key quotes, via Reuters, found below:
- Balance sheet normalization should begin "relatively soon"
- Part of inflation weakness is transitory
- Intends to serve out term, hasn't had further thought on another term
- As asset prices have moved up, have not seen a substantial increase in borrowing
- Banking system is well-capitalized and strong, resilient
Key Notes:
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About Janet Yellen
Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.
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