Janet Yellen's Senate Testimony in Two Minutes

The transcript discusses the potential for future financial crises and the effects of asset purchases on interest rates. It highlights the expected reduction in banking reserves and the potential positive impact of well-designed tax reform on productivity. The speaker expresses skepticism about achieving 3% economic growth and remains focused on current responsibilities, avoiding comments on reappointment.

What is the expected impact of asset purchases on long-term interest rates?

• They are expected to fluctuate randomly.

• They are expected to remain the same.

• They are expected to increase.

• They are expected to decrease.

What is the current approximate quantity of reserves in the banking system?

• 4 trillion

• 2 trillion

• 1 trillion

• 3 trillion

How can appropriately designed tax reform affect productivity?

• It can have a negative effect.

• It can have no effect.

• It can have a favorable effect.

• It can make productivity unpredictable.

What growth rate is considered challenging to achieve according to the speaker?

• 3%

• 1%

• 2%

• 4%

What is the speaker's focus regarding their role as chair?

• Reducing workload

• Increasing personal wealth

• Carrying out assigned responsibilities

• Seeking reappointment