Biography
Janet Yelevlen is an American economist with experience in research and work in the state and banking sectors of the economy. In 2017, the dispute was argued by its statement that in the history of the United States there will no longer be crises like the Great Recession of 2008, since today the Fed is stronger than ever.Childhood and youth
Janet Louise Yellen was born on August 13, 1946 in New York, USA, a Jew for nationality. He graduated from the middle school of Fort Hamilton, where he worked as chief editor in the wall newspaper. The black and white photos are preserved at which the future US Finance Minister stood in a number of students in the class of biology. Then the girl was most interested in this science.
In his youth, he graduated from Brown University with a degree in economics, then received a doctoral degree in Yale University. In this prestigious university, the girl studied under the care of the Nobel laureates of James Tobin and Joseph Stiglitz. She was called one of the brightest female students, which contributed the dissertation "Employment and accumulation of capital in an open economy".
Career
From 1971 to 1976, Janet taught at Harvard and became one of two women who were engaged in economics at that time. The second was a professor of Chicago University Rachel McCalok. In 1980, Yellen began research on macroeconomics and unemployment reduction strategy.In 1998, Janet introduced the report "Explanation of trends in gender breaks on wages" at the scientific conference. The document claimed that women on average earn 25% less than men of the same age and qualifications.
In June 2004, the lady became the president and chief executive officer of the Federal Reserve Bank of San Francisco, where he served until 2010. All 2007, Janet warned that the housing market would soon collapse. So it happened.
After the crisis of 2008 in the biography of the American, there was a legitimate turn when she was appointed by the Vice-Chairman of the Federal Reserve System to restore the economy and banking structures.
In 2014, Yellen became the chairman, which was facilitated by the Petition of the President of the Institute for Female Policy Studies Heidi Hartmann, directed by Barack Obama and gathered 300 signatures. Janet's attention has shifted to the spout of emergency monetary policy tools, such as low interest rates and buying assets. She also advocated the application of the Dodd Franca Law, aimed at combating problems in the shadow banking sector, in which brokers, lenders and other intermediaries are operating outside the regulated economy.
One of the most important decisions of the economist was the support of the former Chairman of the Fed of Ben Bernanke in the purchase of large volumes of treasury and mortgage bonds in order to reduce loan rates.
At the post of Chairman of the Federal Reserve System, Yellen changed Jerome Powell. President Donald Trump, appointed him, nevertheless called Janet "a wonderful woman who did an amazing job."
Personal life
In 1978, Yellen married George Akerlof, with whom he met in the Dining Road Fed. The son of Robert was born in this family. The lady was lucky in a personal life, because the spouse easily agreed to move to Washington when Janet began working in state structures, although at the same time he lost the place of the teacher in Berkeley.
Janet Yellen now
In November 2020, Janet Yellen and Elizabeth Warren called it possible candidates for the post of Finance Minister in the Treasury of Joe Bayden.
In December 2020, the lady stated that he intends to strengthen control over Bitcoin, the price of which reached a record mark. Yellen called the cryptocurrency "unstable and speculative tool" and an illegal payment facility.
Embed from getty imagesIn a speech on January 19, 2021, Janet called on Congress to act "large" to support the US economy destroyed by a pandemic. Yellen insisted that the legislators adopt a package of expenses worth $ 1.9 trillion for business and American families. Also was supposed to speed up the process of vaccination against coronavirus. According to the woman, the benefits of such policies in the long run were to be much translated.
Democrats fully supported the decision of Yellen, but the Republicans expressed concern about the possible growth of the public debt. Janet replied that now, with historically minimal interest rates of the loan, it would be foolish to spend a penny for the restoration of the economy.
On January 25, 2021, Yellen became the first woman as Minister of Finance of the United States, receiving 84 votes in the Senate, of which 34 are from the Republicans. Janet announced in his speech about the intention to develop infrastructure, green energy, education and research to improve American competitiveness.
She also mentioned the extension of sanctions against Russia and promised to introduce new ones. In particular, proposed a ban on the use of Russian information technologies in US networks. The same measure was supposed to be introduced in relation to China, Venezuela, Iran, Cuba and North Korea.
The oath of Yellen took Kamala Harris. Dedicated to this event Post on the US Government page in Twitter has collected thousands of admiring comments.