To me, the greatest asset of the Fed is the people. We have a tremendously dedicated staff... They feel proud to work for the Fed because this is such a competent, professional and well-respected organization.

American workers have faced serious difficulties in the labor market since the first oil shock in 1973. Since that time, the pace of productivity advance has slowed for reasons which are still not understood, lowering the rate at which living standards have advanced.

I will be the first to say that it is always difficult to get monetary policy just right. But the Fed's analytical prowess is top-notch, and our forecasting record is second to none.

Janet Yellen Quotes