Is Janet Yellen Teaching at Cal Again
Secretary of the Treasury
On January 26, 2021, Janet Yellen was sworn in as the 78th Secretary of the Treasury of the U.s.. An economist past preparation, she took office after well-nigh fifty years in academia and public service. She is the get-go person in American history to have led the White Business firm Quango of Economical Advisors, the Federal Reserve, and the Treasury Section.
Janet Louise Yellen was built-in in Bay Ridge, Brooklyn in 1946. Her mother, Anna Ruth, was an elementary schoolhouse teacher while her male parent, Julius, worked every bit a family physician, treating patients out of the ground floor of the family's brownstone.
In 1967, Secretary Yellen graduated from Dark-brown University and went on to earn her PhD at Yale. She was an assistant professor at Harvard until 1976 when she began working at the Federal Reserve Board. There, in the Fed'south cafeteria, she met young man economist, George Akerlof. Janet and George would ally later that twelvemonth. They would go along to have a son, Robert, now besides an economics professor.
In 1980, Secretary Yellen joined the faculty of the University of California at Berkeley, where she became the Eugene E. and Catherine 1000. Trefethen Professor of Business organization and Professor of Economic science. She is Professor Emeritus at the university.
Secretary Yellen'south scholarship has focused on a range of issues pertaining to labor and macroeconomics. Her work on "efficiency wages" with her hubby George Akerlof studied why firms often choose to pay more the minimum needed to hire employees. These businesses, they found, are oft making a wise conclusion. Firms that offer amend pay and working conditions tend to be rewarded with higher morale, reduced turnover and greater productivity.
In 1994, President Bill Clinton appointed so-Dr. Yellen to the Federal Reserve Board of Governors. 3 years later, he named her Chair of the White House Quango of Economic Advisers.
In 2004, Secretarial assistant Yellen began her third tenure at the Federal Reserve, this fourth dimension as President of the Federal Reserve Bank of San Francisco. From that mail service, she spotted a worrying economic trend – a bubble in dwelling house values. When the housing chimera popped in 2008, Secretary Yellen helped manage the resulting financial crisis and recession. In 2010, President Barack Obama, appointed her Vice Chair of the Federal Reserve, earlier nominating her to succeed Fed Chair Benjamin Bernanke as the nation'south summit primal broker. Secretary Yellen would serve as Chair of the Federal Reserve from 2014 until 2018.
On December 1, 2020, then-President-elect Biden nominated Dr. Janet Yellen to the post of Treasury Secretary. "She has spent her career focused on unemployment and the nobility of work," he said, "She understands what it means to people and their communities when they accept adept, decent jobs."
Prior to serving at the Treasury Department, Secretarial assistant Yellen was a Distinguished Boyfriend in Residence with the Economic Studies Program at the Brookings Establishment. During 2020-2021 she served as President of the American Economic Association. She is a member of the American University of Arts and Sciences and the Council on Foreign Relations. She was also a founding member of the Climate Leadership Council.
Secretary Yellen has served on the advisory boards of the Bloomberg New Economic Forum, the Committee for a Responsible Federal Upkeep and Fix the Debt Coalition (CRFB), and the Washington Middle for Equitable Growth Steering Committee. She was elected to the Yale Corporation as an alumni fellow in 2000, serving until 2006.
Dr. Yellen has received honorary doctorates from Bard Higher, Chocolate-brown, the London School of Economics, NYU, the University of Baltimore, the University of Michigan, the University of Warwick and Yale from which she also received the Wilbur Cross Medal for distinguished achievements in scholarship, didactics, academic administration, and public service.
Source: https://home.treasury.gov/about/general-information/officials/janet-yellen
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