Janet Yellen | |
|---|---|
 Official portrait, 2021 | |
| 78th United States Secretary of the Treasury | |
| Assumed office January 26, 2021 | |
| President | Joe Biden |
| Deputy | Wally Adeyemo |
| Preceded by | Steven Mnuchin |
| 15th Chair of the Federal Reserve | |
| In office February 3, 2014 – February 3, 2018 | |
| President | Barack Obama Donald Trump |
| Deputy | Stanley Fischer |
| Preceded by | Ben Bernanke |
| Succeeded by | Jerome Powell |
| 19th Vice Chair of the Federal Reserve | |
| In office October 4, 2010 – February 3, 2014 | |
| President | Barack Obama |
| Preceded by | Donald Kohn |
| Succeeded by | Stanley Fischer |
| Member of the Federal Reserve Board of Governors | |
| In office October 4, 2010 – February 3, 2018 | |
| President | Barack Obama Donald Trump |
| Preceded by | Mark W. Olson |
| Succeeded by | Lisa D. Cook |
| In office August 12, 1994 – February 17, 1997 | |
| President | Bill Clinton |
| Preceded by | Wayne Angell |
| Succeeded by | Edward Gramlich |
| 11th President of the Federal Reserve Bank of San Francisco | |
| In office June 14, 2004 – October 4, 2010 | |
| Preceded by | Robert T. Parry |
| Succeeded by | John C. Williams |
| 18th Chair of the Council of Economic Advisers | |
| In office February 18, 1997 – August 3, 1999 | |
| President | Bill Clinton |
| Preceded by | Joseph Stiglitz |
| Succeeded by | Martin Neil Baily |
| Personal details | |
| Born | Janet Louise Yellen August 13, 1946 Brooklyn, New York City, U.S. |
| Political party | Democratic[1] |
| Spouse | |
| Children | 1 |
| Education | Brown University (BA) Yale University (MA, PhD) |
| Signature |  |
| Academic career | |
| Field | Macroeconomics Labor economics |
| Institution | |
| School or tradition | New Keynesian economics |
| Doctoral advisor | James Tobin |
| Academic advisors | Joseph Stiglitz |
| Doctoral students | Charles Engel |
| Influences | John Maynard Keynes |
| Information at IDEAS / RePEc | |
Janet Louise Yellen (born August 13, 1946) is an American economist serving as the 78th United States secretary of the treasury. She was appointed to the role on January 26, 2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018. She is the first woman to hold either post, and has also led the White House Council of Economic Advisers. Yellen is the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Economics at the University of California, Berkeley.
Born and raised in Bay Ridge, Brooklyn, Yellen graduated from Brown University in 1967 and earned a Ph.D. in economics from Yale University in 1971. She taught as an assistant professor at Harvard University from 1971 to 1976, was a staff economist for the Federal Reserve Board from 1977 to 1978, and was a faculty member at the London School of Economics from 1978 to 1980. Yellen is professor emeritus at the Haas School of Business at the University of California, Berkeley, where she has been a faculty member since 1980 and became the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Professor of Economics.
Yellen served as a member of the Federal Reserve Board of Governors from 1994 to 1997 and was nominated to the position by President Bill Clinton, who then named her chair of the Council of Economic Advisers from 1997 to 1999. She subsequently returned to academia, before serving as president and chief executive officer of the Federal Reserve Bank of San Francisco from 2004 until 2010. Afterward, President Barack Obama chose her to replace Donald Kohn as vice chair of the Federal Reserve from 2010 to 2014 before nominating her to succeed Ben Bernanke as chair of the Federal Reserve three years later. She was succeeded by Jerome Powell after President Donald Trump declined to renominate her for a second term. Following her departure from the Federal Reserve, Yellen joined the Brookings Institution as a distinguished fellow in residence from 2018 until 2020, when she again went into public service.[2]
On November 30, 2020, President-elect Joe Biden nominated Yellen to serve as secretary of the treasury; she was confirmed by the U.S. Senate on January 25, 2021, and took office the next day.[3]