As head, her job is to pursue the Federal Reserve mandate to pursue price stability and maximum employment. She is ranked among the most powerful women by Forbes.
Yellen has been at the center of the financial spotlight recently as all eyes look to her decision of whether or not to hike interest rates amidst the low unemployment rate of the U.S hovering around 5.1%. Her decision will reveal whether the Fed thinks current levels of low unemployment will lead to inflation.
Sources
http://www.forbes.com/profile/janet-yellen/
http://www.newyorker.com/news/john-cassidy/janet-yellen-and-the-fed-should-hold-fire
One of the little tidbits, that didn't find its way into your post is the George Akerlof is married to Janet Yellen. He is a Nobel Prize winner and she is the Chair of the Fed? How'd you like to be one of their children? Actually I sense that Akerlof is a pretty gentle guy. She may have been gentle as well when she was a full time faculty member. But there is some pretty rough politics running the Fed, so I expect that she has pretty tough skin now.
ReplyDeleteIt would certainly be interesting to have such powerful parents. Her son Robert Akerlof chose the route of being a economics professor so it's fair to say that economics runs in the family genes. Rough politics is definitely an issue, but when a single decision from her has such a massive impact on the financial sphere, I think it just becomes a part of the job. That aside, I read on a Forbes article that she is the most experienced candidate to take up the Chair of the Fed in a long time so she definitely seems like a suitable candidate.
ReplyDelete