Janet Yellen

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Janet Yellen (2015)

Janet Louise Yellen (born August 13, 1946 in Brooklyn , New York City ) is an American economist . She has been the United States Secretary of the Treasury in the Biden Cabinet since January 25, 2021 . From 2014 to 2018 she was President of the Federal Reserve Board (FED).

Life

Janet Yellen was born on August 13, 1946 as the daughter of doctor Julius Yellen and Anna Yellen (née Blumenthal) in Brooklyn , New York . She comes from a Jewish family . Yellen graduated from Brown University with a bachelor's degree summa cum laude from Brown University in 1967 , after she had initially envisaged a degree in philosophy . In 1971 she was the only woman on the economics faculty of Yale University to receive her Ph.D. from the two Nobel Prize winners James Tobin and Joseph Stiglitz . and became a lecturer at Harvard University that same yearwhich it remained until 1976. In 2010 she received the Adam Smith Prize .

Janet Yellen is married to Nobel Prize winner George A. Akerlof . Her son, Robert Akerlof, is an assistant professor at the University of Warwick .

Career

In 1974, Janet Yellen was a research fellow at the Massachusetts Institute of Technology , and in the same year she became a member of the international finance department of the Board of Governors of the Federal Reserve System . From 1975 to 1976 she worked for the Congressional Budget Office . From 1977 to 1978 Yellen was again a member of the Board of Governors of the Federal Reserve System for international finance, trade and finance studies. From 1978 to 1980 she was a lecturer at the London School of Economics and Political Science , in 1980 she was a lecturer at the School of Business Administration at the University of California, Berkeley . There she became 1982 extraordinary professor ( associate professor ) and 1985 she received at the city's Haas School of Business ' a full professorship; meanwhile she is Emerita.

Ben Bernanke takes the oath of office from Yellen (October 4, 2010)

From 1994 to 1997, Yellen served on the board of directors of the Board of Governors of the Federal Reserve System. In 1997 she was appointed chairman of the Council of Economic Advisers to US President Bill Clinton and remained there until 1999. From June 14, 2004 to October 4, 2010, she was President and CEO of the Federal Reserve Bank of San Francisco . In 2009, Janet Yellen was a voting member of the Federal Open Market Committee , the body that determines US monetary policy. In March 2010, Barack Obama made her a candidate to succeed Donald Kohn , Deputy Federal Reserve Chairman, and on October 4, Ben Bernanke took her oath of office as Vice President of the Fed.

On October 9, 2013, she was nominated to succeed Ben Bernanke at the helm of the Federal Reserve Board (FED) from February 1, 2014, and on January 6, 2014, the United States Senate voted for her appointment.

After the presidential election in 2016 , after Donald Trump became US President , Yellen announced that he would defend the Dodd – Frank Act .

On February 5, 2018, Jerome Powell, nominated by US President Donald Trump , succeeded her.

After winning the 2020 presidential election , Joe Biden nominated Yellen as US Treasury Secretary . After confirmation by the Senate, she assumed this position on January 25, 2021 and became an official member of the Biden cabinet . She is the first woman in this position.

Yellen is committed to solving the climate crisis . She is a member of the Group of 30 , a financial think tank to which several former central bank governors belong. In 2020 it published recommendations for a global transformation to a zero-emission economy . She is also one of the founding members of the Climate Leadership Council , which campaigns for a CO 2 tax .

Awards

Selected Works

Books
  • The Fabulous Decade: Macroeconomic Lessons from the 1990s (with Alan Blinder), The Century Foundation Press, New York, 2001. ISBN 0-87078-467-6
items
  • "East Germany In From the Cold: The Economic Aftermath of Currency Union" (with George Akerlof, Andrew Rose, and Helga Hessenius), Brookings Papers on Economic Activity 1991: 1.
  • "How Large are the Losses from Rule of Thumb Behavior in Models of the Business Cycle?" (with George Akerlof) in Willima Brainard, William Nordhaus, and Harold Watts, eds., Money, Macroeconomics and Economic Policy: Essays in Honor of James Tobin , Cambridge, Mass .: MIT Press (1991). ISBN 0-262-02325-3
  • "An Analysis of Out-of-Wedlock Childbearing in the United States," (with George Akerlof and Michael Katz). Quarterly Journal of Economics (May 1996); adapted into a Policy Brief prepared for the Fall 1996 issue of the Brookings Review doi: 10.2307 / 2946680
  • "Monetary Policy: Goals and Strategy," Business Economics (July 1996).
  • "Trends in Income Inequality and Policy Responses," Looking Ahead , October 1997; reproduced in James Auerbach and Richard Belous, eds., The Inequality Paradox: Growth of Income Disparity , National Policy Association, 1998
  • "The Continuing Importance of Trade Liberalization," Business Economics (1998).
  • Rose, Andrew K. & Yellen, Janet L., 1989. "Is there a J-curve ?," Journal of Monetary Economics, Elsevier, vol. 24 (1), pages 53-68, July.
  • Yellen, Janet L, 1984. "Efficiency Wage Models of Unemployment," American Economic Review, American Economic Association, vol. 74 (2), pages 200-205
  • McCulloch, Rachel & Yellen, Janet, 1982. "Can capital movements eliminate the need for technology transfer ?," Journal of International Economics, Elsevier, vol. 12 (1-2), pages 95-106, February.

Web links

Commons : Janet Yellen  - Collection of images, videos and audio files

Individual evidence

  1. ^ Obama to nominate Jewish economist Janet Yellen as new Fed chief. World Jewish Congress , October 9, 2013, accessed January 17, 2016 .
  2. ↑ Janet Yellen's Faith Slips Under the Radar As Gender Takes Over. forward.com, accessed January 17, 2016 .
  3. ^ A b c d CV: Janet Louise Yellen ( March 13, 2011 memento in the Internet Archive ), Federal Reserve Bank of San Francisco.
  4. ^ Federal Reserve Bank of San Francisco, Janet L. Yellen President and Chief Executive Officer , accessed March 14, 2010
  5. ^ Russell Goldman: 5 Surprising Things About Janet Yellen. ABC News , October 9, 2013, archived from the original January 8, 2014 ; accessed on January 8, 2014 .
  6. ^ Fed website, Federal Reserve Bank Presidents - Janet L. Yellen , accessed March 14, 2010
  7. ^ The Wall Street Journal, Janet Yellen ( memento March 17, 2010 on the Internet Archive ), accessed March 14, 2010
  8. ^ Back chairs at the Fed. Obama has a favorite. ntv, October 13, 2013, accessed January 18, 2016 .
  9. ↑ Janet Yellen becomes Fed chief. First woman to head the US Federal Reserve. Sueddeutsche.de, January 7, 2014, accessed January 18, 2016 .
  10. ↑ Yellen sends a message to Trump: Hands off Dodd-Frank ( Memento from November 18, 2016 in the Internet Archive )
  11. ↑ Trump's power struggle with the Fed chief , Spiegel Online, February 16, 2017.
  12. ↑ Senate confirms Janet Yellen as first female Treasury secretary. Retrieved January 26, 2021 .
  13. ↑ Alexandra Endres: US government: These are Biden's climate fighters. In: zeit.de . January 23, 2021, accessed January 24, 2021 .
  14. ↑ Steven Beckner: Yellen Pleased w / Resolution Regime; Must Monitor Regultn Impact. Market News International, October 11, 2010. Retrieved October 11, 2010.
  15. ^ Caroline Howard: The World's Most Powerful Women 2014. Forbes. Retrieved June 17, 2014.
personal data
SURNAME Yellen, Janet
ALTERNATIVE NAMES Yellen, Janet Louise
SHORT DESCRIPTION American economist, President of the Federal Reserve System
DATE OF BIRTH August 13, 1946
PLACE OF BIRTH Brooklyn , New York