He currently serves as Secretary of the United States Treasury. His history, his studies and his contribution to the economy.
Throughout history, the economy was not a space allowed for women. However, in recent decades there have been cases of figures who changed this paradigm and managed to leave their mark on world economic history.
Such is the case of Janet YellenAmerican economist who He achieved two important positions within the United States economymilestones that had not been achieved by a woman before. But for that he had to endure many years of study and dedication to this area.
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WORRY. US Treasury Secretary Janet Yellen received the Prime Minister of Ukraine, Denis Shmihal, last week. The White House’s support for that country has translated into sanctions against Russia that complicate the international role of the superpower.
Janet Yellen, a life dedicated to economics
Born on August 13, 1946Yellen graduated as an economist at the university of Brownone of the eight universities that make up the Ivy LeagueEdit. Then, PhD at Yalewith the endorsement of James Tobin and Joseph Stiglitz -both exponents of the Keynesian current- for his thesis.
His professional career began in 1971, when he was professor at Harvard University. From 1980 he continued his work in Berkeleywhich alternated with political positions. Yellen’s relationship with the Federal Reserve dates back to 1994, the year from which it was member of the Board of Governors until 1997. He then resumed this same position between 2010 and 2018.
Between 1997 and 1999 it was chairwoman of the White House Council of Economic Advisers under the presidency of Bill Clinton. Later, between 2004 and 2010, it was president of the Federal Reserve Bank of San Francisco. From there she became vice president of the Federal Reserve, headed at that time by Ben Bernanke.
In 2014, after being nominated by then-President Barack Obama, she became the first woman to head the central bank of the United States. During her period as president, she was in charge of normalizing the economy after successive drops in interest rates. His expansive policy style concluded with an increase in interest rates, leaving them at 1%.
Since January 2021, she has been Secretary of the Treasury of the United Stateswhich also made her the first woman to hold this position. However, starting with Donald Trump’s next term, she will be replaced by financier Scott Bessent.
Yellen follow the Keynesian trendand prioritizes the use of monetary policy to stabilize economic activity throughout the economic cycle. Considered a “dove” for worrying more about unemployment than inflation, the economist always remained in the Democratic wing.
Source: Ambito
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