The Fed's Janet Yellen: Who is she?
Janet Yellen, said to be President Obama's choice to serve under Ben Bernanke at the US Federal Reserve, is known for supporting employment and growth over inflation-cutting measures.
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She has taught at the London School of Economics and chaired the Council of Economic Advisers under President Clinton. Although she's known for supporting employment and growth policies over inflation-cutting measures, Dr. Yellen in her two stints as a Fed policymaker has voted with the majority on each of the 36 votes she participated in, whether the proposed measure was an increase or decease in interest rates.
Here's a look at Yellen's career and life:
2004- present, president of Federal Reserve Bank of San Francisco
1997-99, chair, Economic Policy Committee of the Organization for Economic Cooperation and Development.
1997-1999, chair, Council of Economic Advisers
1994-97, member, Board of Governors of the Federal Reserve System
1978 to 1980, faculty, London School of Economics and Political Science
1977 and 1978, economist, Federal Reserve's Board of Governors
1971 to 1976, assistant professor, Harvard University
Yellen states that her research interests are unemployment and labor markets, monetary and fiscal policies and international trade and investment policy. Most of her work has been on unemployment and, after leaving Washington in 1999, sustainable employment.
Economics is the family business. Yellen’s husband, George Akerlof, won the Nobel Prize in economics in 2001. He is also a professor at the University of California, Berkeley, and senior fellow at the Brookings Institution. For 10 years, starting in 1984, the couple collaborated frequently, publishing research first on macroeconomic theory: near-rationality and efficiency wages. They subsequently turned their attention to poverty and policy issues, such as the causes of rising out-of- wedlock childbearing in the United States.