Janet Yellen Biography, Career, Age, Height, Family, Education, and Net Worth.

Who Is Janet Yellen?

Janet Yellen (Janet Louise Yellen) is an American economist, educator, and Public servant. Currently, he is serving as the 78th United States secretary of the treasury since January 26th, 2021.

Moreover, she is a member of the Democratic Party, previously she served as the 15th chair of the federal reserve from 2014 to 2018. In addition, she is the first woman to hold both positions.

Moreover, she is a professor at emerita at Haas School of Business at the University of California, Berkeley. Moreover from 1994, she served on the Federal Reserve Board of Governors until 1997. In addition from 2010 to 2018, she served on the same board. From 1997, she led President Bill Clinton’s Council of Economic Advisers until 1999. from 2004, she was president of the Federal Reserve Bank of San Francisco until 2010.

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From 2010 until 2014, she was the Federal Reserve’s vice-chair. President Barack Obama selected Yellen to succeed Ben Bernanke as chair of the Federal Reserve from 2014 to 2018. President Donald Trump did not re-appoint her after she served one term.

Career

Academic Career

Yellen was appointed as an associate professor of economics at Harvard University soon after graduating with Ph.D., where she lectured from 1971 until 1976. Moreover, Edwin M. Truman, who knew Yellen from Yale, encouraged her to join an economist with the Federal Reserve Board of Governors in 1977.

Edwin was a junior professor and heard her oral exam. In addition, she had taken over the Feds Division of International Finance.

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Yellen stepped down from her position at the Fed to join her husband, and she was hired as an economics instructor at the LSE. Together with her husband stayed in London for two years before returning to the United States.

In 1980, Janet became part of the faculty of Berkeley’s Haas School of Business to conduct macroeconomics research and teach undergraduate and MBA students for more than 20 years. From 1999 to 2003, she also had a dual appointment at the University of California, Berkeley’s Department of Economics.

At Berkeley-Haas she was the second woman to be granted tenure in 1982, and she was promoted to full professor in 1985. Moreover, she was Bernard T. Rocca, Jr. Professor of Economics. From 1992 to 1994, she was a Professor of International Business and Trade. She was given the Eugene E. In 1999, and was named the Catherine M. Trefethen Professor of Business Administration and Economics.

How Old Is Janet Yellen?

He was born on August 13th, 1946, she is aged 74 years as of 2021.

Janet Yellen Family

Who are His Parents?

She was born in Brooklyn, New York as the daughter of Anna Yellen and Julius Yellen. Moreover, her mother was working as an elementary teacher.

Does She Have Siblings?

She has an older brother by the name of John, though much is not known about him.

Janet Yellen Education

Yellen attended Fort Hamilton High School in 1962. After that, Yellen graduated from Pembroke College in Brown University in 1967 with a bachelor’s in economics. She then went ahead and enrolled in Yale University, where she earned her MA and Ph.D. in economics in 1971.

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Janet Yellen Husband

Currently, she is married to George Akerlof, an economist. The two met at the Fed in the fall of 1977, the date for one year, and then got married in 1978.

Janet Yellen Kids

Together with her husband, they have been blessed with one kid by the name of Robert Akerlof.

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Career from 1994 to 1997

Janet decided to take a leave from Berkeley for five years in August 1994. After that, she was appointed to the Federal Reserve Board of Governors by President Bill Clinton. Yellen’s nomination was confirmed by the Senate Banking Committee by a vote of 18 to 1. Senator Lauch Faircloth, a Republican from North Carolina, was the lone vote against her, arguing that her worries should be restricted to “inflation, inflation, and inflation.”

After her nomination, the United States Senate confirmed her by a vote of 94–6. Yellen took over for Republican Wayne Angell on August 12, 1994, with Alan Blinder, who served as vice-chairman, becoming the Board’s first Democratic appointment since 1980.

As unemployment fell in July 1996, the Federal Reserve, led by Chairman Alan Greenspan, rejected calls to boost interest rates. Yellen, on the other hand, marshaled academic evidence to discourage Greenspan from committing the Fed to a zero-inflation policy and show that the central bank should aim to manage inflation rather than eradicate it.

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According to the analysis, a little inflation rate in the 2-4 percent range provided a stronger base for reducing unemployment and increasing economic growth than a goal of zero. She later departed the Federal Reserve on February 17, 1997, to become chair of the Council of Economic Advisers.

1997 to 1999

From February 18, 1997, Yellen led President Clinton’s Council of Economic Advisers (CEA), succeeding Joseph Stiglitz. She was overwhelmingly confirmed by the Senate, making her the second woman to occupy the position after Laura Tyson. She also led the Economic Policy Committee of the Organization for Economic Cooperation and Development from 1997 to 1999 while at the CEA.

In June 1999, she announced her resignation from the CEA for personal reasons and would return to teaching at Berkeley.

Secretary of the Treasury

President Joe Biden announced on November 30, 2020, that Janet will be named Secretary of the Treasury in his Cabinet. Moreover, Janet was endorsed by all surviving previous U.S. Treasury Secretaries, from George Shultz to Jack Lew for the job in a bipartisan letter urging the Senate to confirm her as soon as possible.

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On January 22, 2021, the Senate Finance Committee overwhelmingly confirmed Yellen’s candidacy with a vote of 26–0. In addition, on January 25, 2021, the full United States Senate confirmed her nomination by a vote of 84–15 (with one abstention).

After being Sworn in by Vice president Kamala Harris the following day. She became the first woman to serve as the US secretary of the treasury. In addition, she was also the first person in American History to lead the three most powerful economic bodies in the Federal government of the United States.

Yellen was appointed as the United States’ first female finance minister, and only two other women – France’s Christine Lagarde and Canada’s Chrystia Freeland – have held comparable posts in the Group of Seven (“G7”) nations.

In April 2021, Yellen suggested a worldwide minimum corporate tax rate to discourage multinational corporations from using profit shifting to evade taxes.

Economic philosophy

When it comes to economics she is considered to be a ” dove” on monetary policy. She is more concerned with unemployment than inflation. However, on financial policy, Yellen is somewhat of a financial hawk. As a chair of the Group of 30 Working Group and Finance, she addressed climate risks, supporting a phase-in carbon pricing to accelerate a shift to net-zero carbon emissions.

After she was announced in December 2020, Yellen was viewed by Wall Street as a secretary who will push hard for expansionary policies aimed at boosting growth, profits, and share prices.