Job Market Monitor
Janet Yellen
COVID-19 and the Economy In US – Questions and answers from Janet Yellen
THE FOLLOWING ANSWERS ARE FROM JANET YELLEN. Q: How well prepared is the typical American household for the coming shock of lost jobs and income, in light of a decade of debt-deleveraging, continuous job growth, and low unemployment, coupled with weak wage growth and rising income inequality? A: “It’s true that we’ve had a decade … Continue reading
Monetary Policy in US – The Pent-Up Wage Deflation hypothesis
Yellen, speaking at the Fed’s annual symposium in Jackson Hole, Wyoming, last week, again cited low wage growth as evidence that the labor market is weaker than the 6.2 percent unemployment rate suggests and that interest rates should therefore stay low. And then she proceeded to cite reasons to be wary of that proposition. Among … Continue reading
US Monetary policy – The labor market has yet to fully recover says Yellen
In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.1 More jobs have now been created in the recovery than were lost in the downturn, with payroll employment in … Continue reading
US Monetary Policy – The ‘balanced approach’ to a dual mandate in a figure
The January 2012 statement of long-run monetary policy strategy clearly expresses the FOMC’s policy intentions: It states that the FOMC’s explicit inflation objective is 2 percent for the price index for personal consumption expenditures (PCE) in the long run and that maximum employment is associated with a sustainable unemployment rate that properly reflects structural developments … Continue reading
Yellen’s Testimony – Conditions in the labor market are still far from satisfactory
Conditions in the labor market have continued to improve. The unemployment rate was 6.3 percent in April, about 1-1/4 percentage points below where it was a year ago. Moreover, gains in payroll employment averaged nearly 200,000 jobs per month over the past year. During the economic recovery so far, payroll employment has increased by about … Continue reading
Yellen – Job gap means rates stay low
“The larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained,” Yellen said today to the Economic Club of New York. The gap, in both cases, is large, with … Continue reading
Monetary Policy in US – Yellen: The Fed is determined to improve employment situation
Janet Yellen, the Federal Reserve chairwoman, devoted more than an hour last week talking by telephone with three Chicago area residents struggling to find jobs. On Monday, she made their stories the centerpiece of the first public speech in her new job, delivering a strong statement about her concern over unemployment, her conviction that the … Continue reading
Yellen on the Unemployment Target – What did she say ?
Transcript of Chair Yellen’s Press Conference March 19, 2014 CHAIR JANET L. YELLEN. Good afternoon. I am pleased to join you for the first of my post-FOMC press conferences. Like Chairman Bernanke before me, I appreciate the opportunity these press conferences afford to explain the decisions of the FOMC and respond to your questions. The … Continue reading
US – Yellen backs CBO’s minimum wage report
Federal Reserve Chairwoman Janet Yellen in Senate testimony subtly slapped the White House, which criticized a recent Congressional Budget Office report on the minimum wage, saying it didn’t represent a consensus among economists. The CBO report said raising the minimum wage would lift 900,000 people out of poverty, but would also lead to the elimination … Continue reading
US Monetary Policy / The recovery in the labor market is far from complete says Yellen
Just because the unemployment rate is falling rapidly, don’t think for a minute that the economy is close to a full recovery. That’s the message Janet Yellen delivered in her first appearance on Capitol Hill since she took the reins of the Federal Reserve. Follow along with MarketWatch’s live blog of Janet Yellen’s testimony. Speaking … Continue reading
Women, Career and Life / Reflexion on the nomination of Janet Yellen
Something very significant has just happened. It may or may not be on your radar – and if it is, you may be wondering what the appointment of 67-year-old Janet Yellen as the next chair of the US Federal Reserve, America’s central bank, has to do with you. The answer is: Janet Yellen is a … Continue reading
Today in US / Yellen and unemployment in the Senate
The Senate is back today from the holiday break, and will confirm Janet Yellen as the next chair, and the first woman chair, of the Federal Reserve Board of Governors. Senators start work at 2 p.m., and will move to Yellen at 3 p.m. At 5:30 p.m., the Senate will vote to confirm her — … Continue reading
US / Efforts to boost hiring an “imperative” says Yellen at a hearing
Fed Vice Chair Janet Yellen on Thursday robustly defended the Federal Reserve’s bold steps to spur economic growth, calling efforts to boost hiring an “imperative” at a hearing into her nomination to become the first woman to lead the U.S. central bank Continue reading
US / Sen. Paul threatens to hold Yellen nomination
Sen. Rand Paul is threatening to put a hold on the nomination of Janet Yellen to chair the Federal Reserve, a source close to the Kentucky Republican said Friday Continue reading
Fed Nomination / Obama Praises Yellen
President Obama on Wednesday announced what he called perhaps his most important economic decision, nominating Janet L. Yellen to lead the Federal Reserve system and be his independent co-steward of the economy, calling her “one of the nation’s foremost economists and policy makers.” Ms. Yellen, 67, would be elevated from the Fed’s vice chairwoman to … Continue reading
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