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Janet Yellen Nominated as Head of US Federal Reserve Board

Oct 10, 2013 12:04 IST

Janet L. YellenUS President Barack Obama on 9 October 2013 nominated Janet L. Yellen as the new head of the Federal Reserve Board. Janet Yellen replaced Ben Bernanke as Chair of the Federal Reserve Board.

Janet Yellen was previously vice Chairman of the Board of Governors of the Federal Reserve System. Janet Yellen is the first woman to lead the Federal Reserve Board and also the first Democrat to head the Board since 1979.

About Janet Yellen

• Janet Louise Yellen (born on 13 August 1946) is an American economist and professor who is the Vice Chair of the Board of Governors of the Federal Reserve System.
• Janet Louise Yellen took office as Vice Chair of the Board of Governors of the Federal Reserve System on 4 October 2010, for a four-year term.
• Prior to her appointment as Vice Chair, Yellen served as President and Chief Executive Officer of the Twelfth District Federal Reserve Bank, at San Francisco.
• Janet Louise Yellen is Professor Emeritus at the University of California at Berkeley where she was the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics and has been a faculty member since 1980.
• Yellen was an Assistant Professor at Harvard University from 1971 to 1976 and she served as an Economist with the Federal Reserve's Board of Governors in 1977 and 1978.
• She earned a BA in economics from Brown University and a PhD in economics from Yale University.

The Federal Reserve Board of Governors is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement monetary policy of the United States.

Quick Digest

Who: Janet Yellen

Where: US

What: Head of US Federal Reserve Board

When: 9 October 2013

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