The Fed has and must have a commitment to price stability, ... The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast.
More Quotes from Janet Yellen:
I support the idea of a quantitative objective for price stability.Janet Yellen
This sector has been a key source of strength in the current expansion, and the concern is that, if house prices fell, the negative impact on household wealth could lead to a pullback in consumer spending.
Janet Yellen
Indeed, only 10 percent of American workers are in manufacturing, which is arguably the sector most exposed to foreign competition.
Janet Yellen
The growing capacity of foreign countries to supply goods and services to the U.S. market has impacted the structure of wages and the bargaining power of workers.
Janet Yellen
There's more of the same on the horizon of good times. There's no obvious reason for the good times to end.
Janet Yellen
Those of you who lived through the 1970's will remember that higher oil prices touched off a wage-price spiral that pushed inflation into double-digit territory,
Janet Yellen
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