- Janet Yellen
Janet Louise Yellen (Born August 13, 1946 in Brooklyn, NY) is an economist and president of the
Federal Reserve Bank of San Francisco. Dr. Yellen is Professor Emeritus at the University of California, Berkeley's Haas School of Business, where she was the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics and has been a faculty member since 1980.
Dr. Yellen graduated summa cum laude from
Brown Universitywith a degree in economics in 1967, and received her PhD in Economics from Yale Universityin 1971. She received the Wilbur Cross Medal from Yale in 1997, an honorary Doctor of Laws degree from Brown in 1998, and an honorary Doctor of Humane Letters from Bard Collegein 2000.
Since 1980, she has been conducting research at the Haas School and teaching macroeconomics to full-time and part-time
MBAstudents. Twice she has been awarded the Haas School's outstanding teaching award. In addition, she served as chair of the President's Council of Economic Advisersfrom 1997 to 1999, and was a member of the Federal Reserve System's Board of Governors from 1994 to 1997. She has taught at Harvard Universityand at the London School of Economics. Yellen serves as president of the Western Economic Association International and is a former vice president of the American Economic Association. She is a fellow of the Yale Corporation.
Yellen is considered by many on Wall Street to be an Inflation Dove (as concerned with unemployment as inflation) and as such is less likely to advocate Federal Reserve interest rate hikes, as compared, for example, to William Poole (St. Louis Fed President) an Inflation Hawk (see definitions under
She is married to
George Akerlof, a Nobel prize-winning economist and professor at the University of California, Berkeley.
* 2004 - present, President and CEO, Federal Reserve Bank of San Francisco
* 1997 - 99 Chair, President's Council of Economic Advisors
* 1994 - 97 Member, Board of Governors of the Federal Reserve System
* 1985 - present Professor, Haas School of Business, UC Berkeley
* 1982 - 85 Associate Professor, Haas School of Business, UC Berkeley
* 1980 - 82 Assistant Professor, Haas School of Business, UC Berkeley
* 1978 - 80 Lecturer, London School of Economics and Political Science
* 1977 - 78 Economist, Division of International Finance, Trade and Financial Studies Section, Board of Governors of the Federal Reserve System
* 1971 - 76 Assistant Professor, Department of Economics, Harvard University
* 1974 Research Fellow, Massachusetts Institute of Technology
External Service and Assignments
* President and CEO, Federal Reserve Bank of San Francisco
* Fellow, American Academy of Arts and Sciences, 2001
* Vice President, Western Economics Association, 2001
* Fellow, Yale Corporation 2000-
* Member, National Academy of Sciences Panel on Ensuring the Best Presidential Science and Technology Appointments, 2000
* Research Associate, National Bureau of Economic Research, 1999-
* Advisory Board, Center for International Political Economy, 1999-
* Advisory Board, Brookings Panel on Economic Activity, 1999
* Chair: Economic Policy Committee of the Organization for Economic Cooperation and Development 1997-1999
* President's Interagency Committee on Women's Business Enterprise (1997)
* Member and adviser: Brookings Panel on Economic Activity (senior advisor); Advisor Panel in Economics, National Science Foundation;
* Advisor: Congressional Budget Office
* Research fellow: Yale University, and Massachusetts Institute of Technology
* Trustee of the Economists for Peace and Security
Current Research and Interests
* Unemployment and labor markets
* Monetary and fiscal policies
* International trade and investment policy
Selected Papers and Publications
* "The Fabulous Decade: macroeconomic Lessons from the 1990s" (with Alan Binder), The Century Foundation Press, New York, 2001
* "Trends in Income Inequality and Policy Responses," Looking Ahead, October 1997 and James Auerbach and Richard Belous, eds., "The Inequality Paradox: Growth of Income Disparity," National Policy Association, 1998
* "The Continuing Importance of Trade Liberalization," Business Economics (1998).
* "Monetary Policy: Goals and Strategy," Business Economics (July 1996).
* "An Analysis of Out-of-Wedlock Childbearing in the United States," (with George Akerlof and Michael Katz). Journal of Economics (May 1996).
* "East Germany In From the Cold: The Economic Aftermath of Currency Union" (with George Akerlof, Andrew Rose, and Helga Hessenius), Brookings Papers on Economic Activity 1991:1.
* "How Large are the Losses from Rule of Thumb Behavior in Models of the Business Cycle?" (with George Akerlof) in Willima Brainard, William Nordhaus, and Harold Watts, eds. Money, Macroeconomics and Economic Policy: Essays in Honor of James Tobin, Cambridge, Mass.: MIT Press (1991).
* [http://www.frbsf.org/federalreserve/people/officers/yellen.html San Francisco Fed biography]
* [http://www.federalreserve.gov/bios/pres12.htm Federal Reserve System biography]
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