This lady was part of the California cronies that destroyed the middle class and small business owners. She couldn't fix or recognized the issues of California District, don't be surprise on her output.
From Wikipedia, the free encyclopedia
Janet Louise Yellen (born August 13, 1946) is an American economist and professor who is the Vice Chair of the Board of Governors of the Federal Reserve System. Previously, she was President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, Chair of the White House Council of Economic Advisers under President Bill Clinton, and Professor Emerita at the University of California, Berkeley's Haas School of Business. On October 9, 2013, President Barack Obama nominated Yellen to be the first female Chair of the Federal Reserve.
Early life and education
Yellen was born in Brooklyn, New York, the daughter of Anna (née Blumenthal) and Julius Yellen, a physician.She graduated from Fort Hamilton High School in the Bay Ridge section of Brooklyn. She graduated summa cum laude from Brown University with a degree in economics in 1967, and received her Ph.D. in economics from Yale University in 1971.
Yellen is Jewish and is married to George Akerlof, a Nobel prize-winning economist and professor emeritus at the University of California, Berkeley. Her son Robert Akerlof is an assistant professor at the University of Warwick.
Career
Yellen was an assistant professor at Harvard in 1971–76 and an economist with the Federal Reserve Board of Governors in 1977–78.
Beginning in 1980, Yellen has been conducting research at the Haas School and teaching macroeconomics to full-time and part-time MBA and undergraduates students. She is now a Professor Emeritus at the University of California, Berkeley's Haas School of Business, where she was named Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. Twice she has been awarded the Haas School's outstanding teaching award.
Yellen served as chair of President Bill Clinton's Council of Economic Advisers from February 13, 1997 to 1999, and was appointed as a member of the Federal Reserve System's Board of Governors from 1994 to 1997. She has taught at Harvard University and 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 was a fellow of the Yale Corporation.
From June 14, 2004 until 2010 Yellen was the President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. She was a voting member of the Federal Open Market Committee (FOMC) in 2009.
Yellen is considered by many on Wall Street to be a "dove" (more concerned with unemployment than with inflation) and as such to be less likely to advocate Federal Reserve interest rate hikes, as compared, for example, to William Poole (former St. Louis Fed president) a "hawk" (see definitions under Inflation).
In July 2009, Yellen was mentioned as a potential successor to Ben Bernanke as chair of the Federal Reserve System, before he was renominated by Barack Obama. She later told an interviewer that such reports were unfounded, and originated in the United Kingdom, where she said the press did not understand that she was too old to be considered for the position.[citation needed]
In 2010, Yellen told Financial Crisis Inquiry Commission that she did not see any of the risks in the financial system until after the recession.
On September 17, 2013, a day after it was confirmed that Lawrence Summers was no longer likely to be appointed to succeed Ben Bernanke, Yellen was widely recognized as the next top pick by U.S. Senate Democrats.
On October 9,2013, Barack Obama nominated her as the first woman chairperson of the Federal Reserve, and added "She had sounded the alarm bell early about the housing market bubble and excesses in the financial markets before the recession. She calls it like she sees it."
