Yellen toimi aiemmin keskuspankin johtokunnan varapuheenjohtajana. [28] However, Yellen did not lead the San Francisco Fed to "move to check [the] increasingly indiscriminate lending" of Countrywide Financial, the largest lender in the U.S.[29] She served 2004-2010, left October 4, 2010, to serve as vice chair of the Federal Reserve Board of Governors. [1] She served one term and was not re-appointed by President Donald Trump. Photograph: Jonathan Ernst/Reuters. economy. [39] In January 2012, the Fed announced its own inflation target of 2 percent a year, after a long campaign by Bernanke and Yellen, who was an early supporter of inflation targeting in the face of opposition from chairman Greenspan since 1990s. This interview was a change in tone for Yellen, who traditionally handled her differences with Trump in a neutral manner. "[82] When her appointment as Treasury secretary was announced in December 2020, Yellen was viewed by Wall Street "as a Treasury secretary who will push hard for expansionary policies aimed at boosting growth, profits and share prices," although the ability of Yellen to push through her preferred fiscal policies was seen as likely to be constrained by congressional gridlock.[82]. [79], Yellen is widely considered to be a "dove" on monetary policy (i.e., more concerned with unemployment than with inflation. On February 2, 2018, the Brookings Institution announced that Yellen would be joining the think tank as a distinguished fellow in residence with the Economic Studies program, effective February 5, 2018. Fri 1 Jan 2021 08.00 EST. Janet Yellen, President-elect Joe Biden's nominee for Treasury Secretary, called for "big" action on the COVID-19 pandemic and economic crisis at her Senate confirmation hearing Tuesday. Yellen chaired President Bill Clinton's Council of Economic Advisers (CEA) from February 18, 1997, replacing Joseph Stiglitz in office. [45] On January 6, 2014, she was confirmed as Chair of the Federal Reserve by a vote of 56–26,[46] the narrowest margin ever for the position. [37] Yellen was the second woman to hold the No. Janet Yellen Foto: Alex Worn/AP På sikt väntas skatter höjas och klimatet liksom finansmarknaden hamna i fokus. Robert Akerlof, now an economist himself, graduated summa cum laude with special distinction from Yale University with a degree in economics and mathematics in 2003 and received a Ph.D. in economics from Harvard University in 2009. [137] Both frequently state that their lone disagreement is that she is a bit more supportive of free trade than he is. [33] At the same time, on the heels of related testimony by Fed Chairman Bernanke, FOMC voting member James B. Bullard of the St. Louis Fed stated that the U.S. economy was "at risk of becoming 'enmeshed in a Japanese-style deflationary outcome within the next several years. "[66] In an interview with Marketplace, Yellen explained that she doubts that Trump could articulate the Federal Reserve's explicit goals of "maximum employment and price stability. [2], Yellen was born to a Polish Jewish[3] family in the Bay Ridge neighborhood of New York City's Brooklyn borough,[4] where she also grew up. During her time at the San Francisco District Fed, she spoke publicly and in meetings of the Fed's monetary policy committee, regarding her concerns about the potential consequences of the boom in housing prices. â NEVER HAD TO BE THIS WAY - 256,772 (@onefussyone) November 24, 2020. She is affiliated with the Hutchins Center on Fiscal and Monetary Policy at Brookings. The Treasury secretary said digital coins have been used to fund terrorism and launder money. He works as an associate professor of economics at the University of Warwick. Stimulus hopes and falling COVID-19 case counts have lifted stocks to record highs throughout February, but some pockets of the market could be overextended, Treasury Secretary Janet Yellen ⦠Former Fed Chair Janet Yellen told Congress Tuesday that if confirmed as the next Treasury Secretary, she would prioritize a âbigâ fiscal package to bridge the U.S. economy to a ⦠[51], With Yellen as chair, the Federal Reserve increased its key interest rate on December 16, 2015. Janet L. Yellen named President and Chief Executive Officer of the Federal Reserve Bank of San Francisco", "Insight: Yellen feared housing bust but did not raise public alarm", "Divining the Regulatory Goals of Fed Rivals", "President Obama Announces Intent to Nominate Three Individuals to the Board of Governors of the Federal Reserve System", "Obama Nominates Yellen, Raskin, Diamond to Fed Board", "PN1728 — Janet L. Yellen — Federal Reserve System", "PN1729 — Janet L. Yellen — Federal Reserve System", "Janet L. Yellen and Sarah Bloom Raskin formally sworn in as members of the Board of Governors", "What To Call The Most Powerful Central Banker In The World", "Janet Yellen called the housing bust and has been mostly right on jobs. As she takes office, she will divest holdings in corporations including Pfizer, ConocoPhillips and AT&T, among others. [50] In her 2014 semiannual testimony on monetary policy, Yellen said that while real estate, equities, and corporate bond prices "have risen appreciably and valuation metrics have increased" they were "generally in line with historical norms"; Yellen noted some concerns about valuations of "lower-rated corporate debt" (i.e., junk bonds), and noted that she and the Fed were monitoring trends, but did not believe that a so-called "everything bubble" was forming. ", "Soft-spoken Yellen wields outsize influence as Fed's No. She has trying to persuade Bernanke and the rest of the committee to adopt her preferred course for monetary policy, advocating more aggressive steps to pump money into the economy to bring down unemployment. [38], Yellen as vice-chair, by contrast with her predecessors, has acted more as an independent force within the institution. [81] As chair of the Group of 30 Working Group on Climate Change and Finance, she addressed climate risks, supporting a phase-in carbon pricing to accelerate a shift to net zero carbon emissions. [2][59], Yellen has been one of the most successful chairs of the Federal Reserve System from perspective of the labor markets. [22][1] While at the CEA, she also chaired the Economic Policy Committee of the Organization for Economic Cooperation and Development from 1997 to 1999. Janet Yellen, president-elect Joe Bidenâs pick for Treasury Secretary, would come to the job with largely predictable views on tax policy for a mainstream, center-left economist. She chaired the Council of Economic Advisers in the President Bill Clinton administration from 1997 to 1999 and was the president of the Federal Reserve Bank of San Francisco from 2004 to 2010. Hon har tidigare varit chef för Federal Reserve i San Francisco och var under 1990-talet rådgivare i Vita huset under den dåvarande president Clinton. Yellen was nominated by President Barack Obama to succeed Ben Bernanke as chair of the Federal Reserve from 2014 to 2018. [31][32] In July, the Senate Banking Committee voted 17–6 to confirm her, though the top Republican on the panel, Senator Richard Shelby of Alabama, voted no, saying he believed Yellen had an "inflationary bias". Joe Biden's pick to become the new U.S. Treasury Secretary, Janet Yellen, has clarified her stance on bitcoin and cryptocurrencies. [56][57][58] She was the briefest-serving Fed chair since G. William Miller from 1978-79, and first in nearly 40 years to not receive a second term. Dessa: Here you go", Janet Yellen collected news and commentary, United States Secretaries of the Treasury, Secretary of Housing and Urban Development, Administrator of the Environmental Protection Agency, Director of the Office of Management and Budget, Chair of the Council of Economic Advisors, Administrator of the Small Business Administration, Director of the Office of Science and Technology Policy, Chair of the Council of Economic Advisers, Director of the Federal Emergency Management Agency, Director of the Office of National Drug Control Policy, Chairs of the Council of Economic Advisers, Federal Reserve v. Investment Co. 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Douglas Award for Ethics in Government, This page was last edited on 22 February 2021, at 23:18. Janet Yellen's confused dollar policy By Desmond Lachman, Opinion Contributor â 02/16/21 04:30 PM EST The views expressed by contributors are their own and not the view of The Hill These include: Yellen is married to George Akerlof, an economist, 2001 Nobel Memorial Prize in Economic Sciences laureate, professor at the McCourt School of Public Policy at Georgetown University, and professor emeritus at the University of California, Berkeley. She has been awarded the Haas School's outstanding teaching award twice. Janet Louise Yellen (born August 13, 1946) is an American economist serving as the United States secretary of the treasury since January 26, 2021. [11] By the time of their marriage, Akerlof had already accepted a teaching position at the London School of Economics (LSE). Yellen, has received numerous honors in recognition of her career in academic and politics. After acquiring her bachelorâs degree in economics from Brown University, Yellen sought to pursue a doctorate in the discipline as well. During her term, the unemployment rate has dropped from 6.7 percent to 4.1 percent, the lowest in 17 years. [14], In August 1994, Yellen took leave from Berkeley for five years. It was concluded that this gap had no correlation with differences in productivity and, as such, was the repercussions of discrimination within the workforce. [69][70] She's pledged to get official permission before taking part in any federal regulatory decisions involving companies that had paid speaking fees to her to avoid any conflicts of interest. [70], On November 30, 2020, President Joe Biden announced he would nominate Yellen to serve as secretary of the Treasury in his Cabinet. She was confirmed unanimously by the United States Senate,[19][20] the second woman to hold the job,[21] following Laura Tyson. Den 74-åriga nationalekonomen blir landets första kvinna på posten. [1], After receiving her Ph.D, Yellen was appointed as an assistant professor of economics at Harvard University, where she taught from 1971 to 1976. She served as vice-chair of the Federal Reserve from 2010 to 2014. [9] Her former professor Joseph Stiglitz, another Nobelist, has called Yellen one of his brightest and most memorable students. [ 11 ] [23], During her time with the Council of Economic Advisors, Yellen oversaw a landmark report "Explaining Trends in the Gender Wage Gap" focused on the gender pay divide in June 1998. Congratulations to Janet Yellen, who will be the first woman in American history to serve as Treasury Secretary! Within this study, the Council analyzed data from 1969 to 1996 to determine the cause for women to earn substantially less than men. [24][25][1], In June 1999, Yellen announced that she was resigning from the CEA for personal reasons and would return to Berkeley.[26]. Kalyeena Makortoff @kalyeena. Her mother was Anna Ruth (née Blumenthal; 1907–1986), an elementary school teacher, and her father was Julius Yellen (1906–1975), a family physician, who worked from the ground floor of their home. ", "Yellen, Raskin and Diamond eyed for Fed board", "Yellen Would Assume Vast Policy Portfolio as Treasury Secretary", "Jobs slump and Covid lead litany of post-Trump crises facing Janet Yellen", "Janet Yellen joins Yale Corporation as the newest alumni fellow", "Former trustee Janet Yellen nominated to head Federal Reserve", "Profs. "[67] Yellen pointed out Trump's claims that the Federal Reserve's goals involve trade, which she explains to be objectively false. [53], Trump considered renominating Yellen for another term,[54] but on November 2, 2017 nominated Jerome Powell to succeed Yellen when her term ended on February 3, 2018. Janet Yellen was paid $67,500 for speaking at a Goldman Sachs event. In 1967, Secretary Yellen graduated from Brown University and went on to earn her PhD at Yale. This follows her remarks during a ⦠'"[34], Bullard's statement was interpreted as a possible shift within the FOMC balance between inflation hawks and doves. [135] Yellen and Akerlof first crossed paths at the Fed in the fall of 1977 and married in June 1978, less than a year after meeting. [9], Den 30 november 2020 meddelade USA:s blivande president Joe Biden att han skulle att nominera Yellen till finansminister. The Senate Finance Committee meets to consider Janet L. Yellen's nomination as Secretary of the Treasury for President-elect Joe Biden's administration. [55] After Trump's decision, Yellen announced that she would leave the Fed at the end of her term as chair. [47] In addition to being the first woman to lead U.S. central bank, or any major central bank, Yellen is also the first Democratic nominee to run the Fed since Paul Volcker became chairman in 1979. She is the first woman to hold either role. Hon var mellan 2014 och 2018 ordförande i USA:s centralbank Federal Reserve System. For other people with this surname, see, Return to the Federal Reserve (2004–2018), Vice Chair of the Federal Reserve Board of Governors, Organization for Economic Cooperation and Development, Dodd–Frank Wall Street Reform and Consumer Protection Act, John Simon Guggenheim Memorial Foundation, Western Economic Association International, National Association for Business Economics, Nobel Memorial Prize in Economic Sciences, List of female United States Cabinet members, "New Fed Chief Janet Yellen lets a long career of breaking barriers speak for itself", "Trump picks Jerome Powell to succeed Yellen as Fed chair", "Obama to nominate Jewish economist Janet Yellen as new Fed chief", "Biden Expected to Pick Janet Yellen, Former Fed Chair, as Treasury Secretary", "Janet Yellen: A brief profile of the Federal Reserve nominee", "Janet Yellen's Faith Slips Under the Radar As Gender Takes Over", "Yellen picked as Fed's first female chair", "President-elect Joe Biden Nominates Harvard Affiliates to Top Executive Positions", "A Fed love story: Janet Yellen meets her match", "Possible Fed Successor Has Admirers and Foes", "Vote Summary – Question: On the Nomination (Janet L. Yellen )", "Clinton Names 2 Economists to Fed Board", "A History of Fed Leaders and Interest Rates", "PN84 — Janet L. Yellen — Executive Office of the President", "Yellen, Alvarez Confirmed In Unanimous Senate Vote", "FACTBOX-Janet Yellen's road to U.S. Treasury Secretary", "Explaining Trends In The Gender Wage Gap", "Fed Chair Janet Yellen prefers to quietly break gender barriers", "Yellen to Leave Economic Post, Return to UC Berkeley Faculty", "FRB: Press Release—Dr. USA:s nästa finansminister Janet Yellen möter en ekonomi i tumult, ett samhälle i kris â och skyhöga politiska förväntningar. [36] On October 4, 2010, Yellen was sworn in as vice chair for a four-year term that ended on October 4, 2014. The US economy is still at the mercy of the pandemic. and as such generally favoring lower, rather than higher, Federal Reserve interest rates.
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