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Janet YellenAmerican economist and professor
Date of Birth: 13.08.1946
Country:  USA |
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Biography of Janet Yellen
Janet Yellen is an American economist and professor, currently serving as the Vice Chair of the Board of Governors of the Federal Reserve System. She has held various prominent positions throughout her career, including President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, member of the White House Council of Economic Advisers under President Bill Clinton, and distinguished professor at the Haas School of Business at the University of California, Berkeley.
Early Life and Education
Yellen was born in Brooklyn, New York, where she also completed her schooling. She graduated with honors in economics from Brown University in 1967 and obtained her Ph.D. in economics from Yale University. In 1980, Yellen began her research at the Haas School of Business, where she also taught macroeconomics. She received two outstanding teaching awards from the Haas School of Business for her exceptional teaching abilities.
Career
Yellen served as a member of the White House Council of Economic Advisers from February 13, 1997, until 1999, and as a member of the Board of Governors of the Federal Reserve System from 1994 to 1997. She has also worked at Harvard University, the London School of Economics, and held positions in various economic associations, including the presidency of the Western Economic Association International and the vice presidency of the American Economic Association.
In 2004, Yellen became the President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. Since 2009, she has been a voting member of the Federal Open Market Committee. In July 2009, Yellen was considered a potential successor to Ben Bernanke as the Chair of the Federal Reserve System; however, Bernanke ultimately remained in the position. Nonetheless, Yellen earned a significantly higher salary than Bernanke, making $410,000 per year, more than twice the legally limited annual salary of $199,700 for the Chair.
On April 28, 2010, President Barack Obama nominated Yellen as the Vice Chair of the Federal Reserve System, succeeding Donald Kohn. In July, the Senate Banking Committee approved her nomination with 17 votes in favor and 6 against, although Senator Richard C. Shelby, the committee's leading Republican, strongly opposed her appointment. On October 4, 2010, Yellen assumed the position, which she held until October 4, 2014. She also became a member of the Federal Reserve Board, with a term set to end on January 31, 2024.
On October 11, 2010, Yellen made her first appearance as Vice Chair and surprised many with her support for low interest rates, deviating from her usual peaceful rhetoric.
Personal Life
Janet Yellen is married to George Akerlof, a Nobel laureate and professor at the University of California, Berkeley. Their son, Robert Akerlof, is also involved in the field of economics.
