Janet Louise Yellen famed as Janet Yellen is a famous American economist at the Brookings Institution. Moreover, she is also a professor emeritus at the University of California, Berkeley, Haas School of Business. She had taught economics as a professor for over 20 years from 1985 to 2006. What’s more, she also served as the Chair of the Federal Reserve from the year 2014 to 2018. She has also served as the Vice-Chair from the year 2010 to 2014. Recently, multiple news outlets reported that President-elect Joe Biden will nominate Yellen to serve in the Biden cabinet as the United States Secretary of the Treasury on 23rd November 2020.
Biden pick Janet Yellen as the first female treasury secretary
President-elect Joe Biden is expected to name Janet Yellen to lead the treasury department. If confirmed by the Senate, she would be the first woman to hold the position in US history. She previously served as head of America’s central bank and as a top economics adviser to former President Bill Clinton. As chair of the US Federal Reserve, Ms. Yellen was known for focusing more attention on the impact of the bank’s policies on workers and the costs of America’s rising inequality.
Famous For
- Being an American economist.
- Being the first woman to head the Federal Reserve Board Governor from the year 1994 until 1997 and again from the year 2010 to 2018.
- For breaking down many gender barriers as a woman in the field.
Source: @marketwatch
What is the Birthplace of Janet Yellen?
On 13th August 1946, Janet Yellen was born in Brooklyn, New York City, the USA with the birth name/full name of Janet Louise Yellen. As of 2020, she celebrated her 74th birthday. Her nationality is American and her ethnic background is American-White. Her race is White. She was born to a Jewish family; Anna Ruth (mother) and Julius Yellen (father). Regarding her parents’ occupation, her mother was an elementary school teacher and her father was a family physician. She also has a sibling; an older brother named John. Leo is her Zodiac sign and her religion is Jewish.
As per hеr еduсаtіоn, ѕhе grаduаtеd frоm Fоrt Наmіltоn Ніgh Ѕсhооl іn Вrооklуn. Ѕhе also grаduаtеd frоm Реmbrоkе Соllеgе іn Вrоwn Unіvеrѕіtу bу а dеgrее аttаіnеd іn есоnоmісѕ durіng thе уеаr 1967. Ѕhе hаѕ аttаіnеd hеr Рh.D. dеgrее іn есоnоmісѕ аt Yаlе Unіvеrѕіtу durіng thе уеаr 1971.
How was the Career of Janet Yellen?
- Completing her education, Janet Yellen became an assistant professor at Harvard from the year 1971-1976. She was also recruited to become an economist with the Federal Reserve Board of Governors by Ted Truman in the year 1977. Later, she was assigned to research international monetary reform. After that, she landed a position as a lecturer.
- She also conducted research at the Haas School and taught macroeconomics to full-time and part-time MBA and undergraduate students. It was in the year 1980.
- Currently, she is a Professor Emerita at the University of California, Berkeley’s Haas School of Business.
- From Berkeley, she took leave for five years in August 1994. She was appointed as a member of the Federal Reserve Board of Governors by President Clinton who served from 12th August 1994 to 17th February 1997. She also became Chair of President Clinton’s Council of Economic Advisers from 18th February 1997 to 3rd August 1999.
- From the year 1997-1999, she chaired the Economic Policy Committee of the Organization for Economic Cooperation and Development. She then served as president of the Western Economic Association International and is a former vice president of the American Economic Association.
- From the year 2000 to 2006, she was a fellow of the Yale Corporation. She was the President and Chief Executive Officer of the Federal Reserve Bank of San Francisco from 14th June 2004 until 2010.
- In the year 2009, she was a voting member of the Federal Open Market Committee (FOMC). She was also mentioned as a potential successor to Ben Bernanke as chair of the Federal Reserve System in July 2009, before he was renominated by Barack Obama.
- President Obama nominated her to succeed Donald Kohn as vice-chair of the Federal Reserve System on 28th April 2010. She was sworn in for a four-year term on 4th October 2010 which ended 4th October 2014.
- She began a 14-year term as a member of the Federal Reserve Board that will expire on 31st January 2024.
- Moreover,
- She was officially nominated to replace Bernanke as Chair of the Federal Reserve, the first vice-chair to be elevated on 9th October 2013. On 6th January 2014, she was confirmed as Chair of the Federal Reserve by a vote of 56-26, the narrowest margin ever for the position.
- After being elected by the Federal Open Market Committee as its chair on 30th January 2014, she took office on 3rd February 2014.
- After the election of President Donald Trump in November 2016, she vowed to protect Dodd-Frank. Trump considered renominating her for another term, but on 2nd November 2017 nominated Jerome Powell to succeed her when her term ended on 3rd February
- 2018. After Trump’s decision, she announced that she would leave the Federal Reserve Board of Governors at the end of her term as chair.
- She criticized Trump’s economic policies on 25th February 2019. In November 2020, she was reported to be under consideration for Secretary of the Treasury in the Biden Administration. She would be the first woman to hold this position if she is confirmed.
- She is a Keynesian economist and advocates the use of monetary policy in stabilizing economic activity over the business cycle.
- She is also an author of the book; The Fabulous Decade: Macroeconomic Lessons from the 1990s (with Alan Blinder), The Century Foundation Press, New York, 2001.
Awards and Achievements of Janet Yellen
Janet Yellen is an award-winning American economist who received the Wilbur Cross Medal from Yale in 1997. Not only this but also he received an honorary Doctor of Laws degree from Brown in 1998 and an honorary Doctor of Humane Letters from Bard College in 2000. What’s more, she achieved an Honorary Doctorate from the London School of Economics in May 2015. She received the Adam Smith Award from the National Association for Business Economics (NABE) as of October 2010. She was named by Forbes as the second most powerful woman in the world in the year 2014. She received an honorary Doctor of Social Science degree from Yale University in May 2015. She received an honorary Doctor of Laws degree from the University of Warwick in October 2015. She received an honorary Radcliffe Medal and spoke to guests on 27th May 2016 at the Radcliffe Day luncheon during commencement Week.
Who is Janet Yellen married to?
Janet Yellen is a married woman. She married her handsome husband, George Akerlof. By profession, George Akerlof is an economist, Nobel Memorial Prize in Economic Sciences laureate, professor at Georgetown University, and professor emeritus at the University of California, Berkeley. The duo met at the Fed in the fall of 1977 and later, they got married in June 1978. The duo is also blessed with a kid (son) named Robert Akerlof (born in 1981). Their son, Robert teaches economics at the University of Warwick. They both are supportive of each other and they are loyal to each other. The duo has collaborated on research, including topics such as poverty, unemployment, and a paper on the costs of out-of-wedlock childbearing. Both frequently state that their lone disagreement is that she is a bit more supportive of free trade than him.
Source: @brookings.edu
How much is Janet Yellen’s Net Worth 2020?
Janet Yellen is a well-recognized and successful economist who has made a huge amount of money throughout his career. As of 2020, the net worth of Janet Yellen is estimated to have $15 Million as per sources. Her major source of wealth comes from being an economist as well as by serving as a professional at many top universities. She has not mentioned anything regarding her salary, career earnings, income, and more. Without a doubt, she is satisfied with whatever she is receiving and she is living a cool lifestyle from her earnings. Her earnings are high as she served as a Vice-Chair of the Board of Governors of the Federal Reserve System. Presently, she earns well by working as a Professor Emeritus at the University of California-Berkeley’s Haas School of Business. She holds the top position being an economist in the world.
How tall is Janet Yellen?
Being at the age of 74, Janet Yellen still looks very young just like the age of twenty. She has very fair skin with a glowing smile attracting a lot of people towards her. She stands tall at a height of 1.6 m with a balanced weight of 70 KG. His other body details such as dress size, shoe size, waist size, breast size, and more have not been revealed yet. Overall, she has got a healthy body. Her body build is average.
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