Janet Yellen

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Janet Yellen
Janet yellen.jpg
Vice Chairperson of the Federal Reserve
PartyDemocratic
Elections and appointments
NominatedOctober 9, 2013
ConfirmedJanuary 6, 2014
Appointed byBarack Obama
Prior offices
Economic Policy Committee of the Organization for Economic Cooperation and Development (OECD)
1997-1999
Chair of Council of Economic Advisers
1997-1999
Member of the Federal Reserve Board of Governors
1994-1997
Education
High schoolFort Hamilton High School
Bachelor'sBrown University
Ph.D.Yale University
Personal
BirthdayAugust 13, 1946
Place of birthNew York, New York
ProfessionProfessor
ReligionJewish
Websites
Office website
Janet Louise Yellen (b. August 13, 1946, in New York, New York) is the current Vice Chairperson and next Chair of the Federal Reserve System when Ben Bernanke's term ends on January 31, 2014. She was confirmed by the Senate on January 6, 2014.[1] She is the first woman to hold the position, as well as the first Democrat since the Carter administration.[2]

Yellen has previously served on the Board of Governors of the Organization for Cooperation and Development (OECD) and as a professor at UC Berkeley, Harvard University and the London School of Economics and Political Science.[3]

Biography

Yellen was born in New York, New York and attended Fort Hamilton High School before graduating with a degree in economics from Brown University.[4] She earned a Ph.D. in economics from Yale University. She also has two honorary degrees, one from Brown and the other from Bard College.[3] She is an author.[5]

Career

Below is an abbreviated outline of Yellen's academic, professional and political career:[3][5]

  • 1967: Graduated from Brown University
  • 1971: Earned Ph.D. from Yale University
  • 1971-1976: Assistant Professor at Harvard University
  • 1977-1978: Economist for the Federal Reserve Board of Governors
  • 1978-1980: Lecturer at The London School of Economics and Political Science
  • 1980-1994: Faculty member University of California at Berkeley
  • 1994-1997: Member of the Federal Reserve Board of Governors
  • 1997-1999: Chair of the OECD
  • 1997-1999: Appointed by President Clinton as the Chair of Council of Economic Advisers
  • 2004-2010: President and CEO of the Federal Reserve Bank of San Francisco
  • 2010-Present: Vice Chair of the Federal Reserve Board of Governors

Confirmation vote

Yellen was confirmed by the Senate to succeed Ben Bernanke as the Federal Reserve Chair on January 6, 2014, by a vote of 56-26.[6]

Janet Yellen Confirmation vote, January 6, 2014
Party Votes for Approveda Votes against Defeatedd Total votes
Democratic Party Democrats 45 0 45
Republican Party Republicans 11 26 37
Independent Independents 0 0 0
Total Votes 56 26 82


Issues

Rand Paul block of nomination

In a statement released on October 30, 2013, Sen. Rand Paul announced his intention to put a “hold” on Yellen's nomination as the next chairwoman of the Federal Reserve, in an attempt to promote his call for legislation that would require audits and other public scrutiny of the Federal Reserve System.[7]

“The American people have a right to know what this institution is doing with the nation’s money supply,” Paul said in the statement. “The Federal Reserve does not need prolonged secrecy—it needs to be audited, and my bipartisan Federal Reserve Transparency Act will do just that.”[7]

Economic views

Yellen is expected to continue most of the policies used by Bernanke, but prefers policies aimed at lowering unemployment rather than controlling inflation.[8][9]

Personal

Yellen is married to Nobel Prize-winning economist George Akerlof with whom she has one child.[5]

Recent news

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Janet Yellen News Feed

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External links

Official biography
On Wikipedia

References