Janet Yellen - Head of the U.S. Federal Reserve

Outstanding personalities make history and influence the destinies of hundreds and sometimes thousands of people, both within a particular state and around the world. Today ForTrader.org would like to draw your attention to Janet Yellen - a prominent expert in the field of economics, the head of the Federal Reserve System, a woman who is known not only in the United States but also far beyond its borders.

Janet Yellen
Janet Yellen

Newly minted Fed Chair Janet Yellen

Childhood and adolescence. Janet was born in Brooklyn on August 13, 1946. After graduating from high school in Brooklyn, she attended Brown University, graduating summa cum laude in 1967. Four years later she received her Ph.D. from Yale University.

Family. Janet was born into a Jewish family, her father was a doctor of medicine. To date, she is married to George AkerlofHe was a distinguished American economist and Nobel Prize laureate. Son Robert Akerlof is pursuing his opportunities in his family's traditional economic field and is an assistant professor at the University of Warwick.

Political views and writings. As a politician, Janet Yellen has distinguished herself as a person of strong character and an unwavering belief in the power of rightness. Her modus operandi is tough and energetic. At a time when Washington considered direct government intervention in natural economic processes a scolding, she vehemently advocated decisive action on the part of the Federal Reserve. She became the ideological mastermind and principal author of quantitative easing (QE) programs. In 1996 and 1998 she published two economic works describing monetary policy and trade liberalism.

Career. After graduating in 1971, she taught at Harvard for the next five years. Then she worked for two years as a teacher of economics at a prestigious school in London. Since 1980, Janet Yellen has taught at the Haas School of the University of California. After the publication of her first book, she was confirmed as head of the Council of Economic Advisors, which functions directly under the President.

Since 2004, Janet Yellen served as president of the Federal Reserve Bank of San Francisco, a position she held for six years. A year before she resigned as head of the bank she became a member of the U.S. Federal Reserve Open Market Committee, with the right to vote. Her departure from the San Francisco bank itself was due to her replacement as Vice Chairman of the Board of Governors of the Federal Reserve Board. On the eve of the end of 2013, Barack Obama nominated her for Fed Chair, as the powers Ben Bernarke expired at the end of the first month of 2014.

In early January 2014, recalls ForTrader.org, the U.S. Senate approved the Janet Yellen for the chairmanship of the governing board of the U.S. Federal Reserve Board. More than twice as many senators voted yes to the dissenting group. The important point is that Janet is the first woman to hold the post.

Barack Obama, Jeannette Yellen, Ben Bernanke
Barack Obama, Jeannette Yellen, Ben Bernanke

Thus, a native New Yorker, raised in the indigenous Jewish tradition - Janet Yellen - at age 67, assumed the chairmanship of the U.S. Federal Reserve Board of Governors with a direct recommendation from President Barack Obama. Of the 80 senators who cast their votes, 56 supported her candidacy and 26 opposed it, reflecting the team's high confidence in the current head's economic knowledge and experience.

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