Janet Yellen’s birthdate is August 13, 1946. She was born in Brooklyn, New York City. Her parents were Anna, was an elementary school teacher, and Julius, a physician. Her older brother’s name is John. Let us know about “Jannet Yellen Net Worth”
Her accent comes from Polish Jewish ancestry.
Her school was Fort Hamilton High School. She was also a valedictorian.
Then she went to Brown University Pembroke College. In 1967 she graduated, completing BA in Economics. Later she did MA and Ph.D. in economics from Yale University. She graduated in 1971.
Jannet Yellen Net Worth
America’s federal reserve system’s one of the leads was Jannet Yellen, and she served them from 2014 to 2018. Her net worth is $16 million. Later in 2020, Jannet served as treasury Secretary under Joe Biden’s administration.
Her husband’s name is George Akerlof. He also achieved a Nobel prize for the economy. A financial report claimed that Janet and her husband own assets of respectively $8 and $20 million.
Jannet Yellen was the 15th chair Federal reserve from 2014-2018. Also, she was a Federal Reserve Board of Governors member. Under President Clinton, Jannet council of economic Advisers from 1997-1999.
The source of the federal filing claimed that Jannet earned $7 million between the duration of 2018-2020, and December 2020. And the amount came from 50 speaking engagements.
Career In Academia
Yellen accomplished her doctorate at Harvard University. Later she becomes an assistant professor there. She served there as a teacher from 1971 to 1976.
After then, the federal reserve board of governors invited Yellen to join them and serve as an economist. Yellen contributed a lot, such as researching international monetary reform during her period.
At the University of California, she put herself at the Hass School of business back in 1980. At Berkeley, she did macroeconomics research. She also taught some students who haven’t graduated yet and also MBA students.
Ultimately in 1985, Yellen become a full-time professor and completely devoted herself to teaching. There for being such an extraordinary teacher, she was shown respect by the Hass school award.
In 1994 when Yellen was about to leave Berkeley, President Clinton made her join as a member of the federal reserve board of governors. She left the position and joined the chair of the council advisor back in 1997.
She paid attention to the inequality in salary between men and women. She realized that salary discrimination was the central provocation to support gender discrimination. Yellen eventually returned to Berkeley to teach and left the CEA.
Back To Federal Reserve
For the first time in 2004, a woman become the president of the Federal Reserve Bank of San Francisco which was Yellen. She was in the position till 2010. After then under President Obama, she went served as the vice chair.
Later in 2013, Yellen was voted to sit on the chair of the Federal Reserve instead of Ben Bernanke. This was the first attempt by any vice chair considered for that position.
In history, she was the first woman to be in command of a central bank of the united states. she was also remarkable to hold her position after Paul Volcker back in 1979.
During Yellen’s time, the key interest was raised in 2006. Yellen was in overall view very successful woman in these positions. During her career, the rate of unemployment went down from 6.7% to 4.7%, which was the least in 17 years.
Post Federal Reserve
Yellen was already offered to join the Brookings Institution Research group before it was her last day in the federal office. She received $7 million as speaking fees through financial organizations from the year 2018 to 2020. the companies include Goldman Sachs and Citigroup.
President Biden conveyed his wish to nominate Yellen as united states secretary of the treasury back in November 2020. She was selected by the senate finance committee in January of 2021.
Through the process of everything, Yellen was the first to contribute to the position as a woman and in American history in the leading position of the treasury.
Philosophy On Economy
Yellen’s economic target was centered on the unemployment issue and lowering the federal interest rate. She was also in favor to raise the tax rate, reduce retirement spending, and cutting the dept.
Her initiatives were necessary for the government’s default system. She also put pressure and insisted on accurate financial acts and laws.
Over Yellen’s whole career, she has marked her honor and established her recognition in both academic and work fields.
She was honored by many well-known and top universities. Yellen also had reputed memberships at the American Academy of Arts and Sciences, National Economic Research, the national association for Business Economics, and the council of foreign relations.
Now we have learnt “Jannet Yellen Net Worth”, Although Janet Yellen is an inspiring role model for many women around the world. She established a great remark for her followers, especially women. Yellen is a very important public figure.