In her most up-to-date public position, Yellen served as chair of the Federal Reserve from 2014-2018, overseeing a record-long enlargement of the economic system that pushed unemployment to its lowest price in half a century, in accordance to the New York Times. Additionally the primary girl to carry the place of Fed chair, Yellen had hoped to serve one other time period, however Donald Trump predictably checked out her monitor document of success and changed her with somebody he hoped could be extra of a patsy in bending to his needs.
A former tutorial who taught at College of California, Berkeley, Yellen is aware of her method round Washington. Earlier than serving within the Obama and Trump administrations, she additionally served as a financial adviser in Invoice Clinton’s White Home.
The Instances writes that Yellen has met with some criticism from progressives who maybe hoped somebody with the aggressive instincts of an Elizabeth Warren would helm the Treasury. However the Instances additionally credit Yellen with paying “constant, cautious consideration to inequality and labor market outcomes,” even when it hasn’t been fashionable amongst lawmakers.
In actual fact, Massachusetts Sen. Warren praised exactly that track record in endorsing the choose, calling Yellen “sensible, powerful, and principled.”
“As some of the profitable Fed Chairs ever, she has stood as much as Wall Road banks, together with holding Wells Fargo accountable for dishonest working households,” Warren tweeted Monday. “I’d stay up for working with Secretary Yellen to strengthen our economic system, sort out inequality, and defend customers.”
Yellen herself has stated she was drawn to changing into an economist as a car to bettering different individuals’s lives. “I care about individuals,” she stated in a 2013 interview with New York College economics professor Simon Bowmaker. “I found that economics was of monumental relevance to our lives and had the potential to make the world a greater place.”
Yellen can also be seen as a choose with bipartisan enchantment after receiving backing from lawmakers of each events throughout her affirmation as Fed Chair.