Janet Yellen Net Worth, Early Life, Husband, Professional Career Highlights, Prestigious Positions and Honors

American economist Janet Yellen net worth rose as she took over prestigious positions like Chair of Board of Governors of the Federal Reserve System and CEO of Federal Reserve Bank of San Francisco.

Synopsis

Born in 1946, Janet Yellen pas served as Vice Chairwoman from 2010 to 2014 after she left her Presidential position in the Federal Reserve Bank of San Francisco. Additionally, she has held high position as Chair of the White House Council of Economic Advisers under President Bill Clinton. Besides, she is business professor at the University of California, Berkeley. Janet Yellen net worth rose as President Obama nominated her as Chairwoman to the United States Federal Reserve in 2014.

Early Life and Education

Yellen was born Janet Louise Yellen on August 13 1946 in Brooklyn, New York. She was born in a Jewish family to parents Anna and Julius Yellen. Yellen attended Fort Hamilton High School in Brooklyn and graduated in Economics from Pembroke College in Brown University. Janet Yellen net worth rose from the early age as she graduated with summa cum laude in 1967. Before graduating as an economics major student, she was a Philosophy student. However, she got inspired by professors George Borts and Herschel Grossman and switched to economics major.

Yellen went to Yale University and received her Ph.D. in economics in the year 1971. Nobel laureates James Tobin and Joseph Stiglitz supervised her dissertation “Employment, Output and Capital Accumulation in an Open Economy: A Disequilibrium Approach”. Her dissertation supervisors remember Yellen as one of the brightest and the most memorable students. Janet Yellen net worth rose as she was the only female student in her doctoral class that earned Ph.D. in 1971.

Husband and Children

Yellen married Goeorge Akerlof, professor at Georgetown University and University of California, Berkeley. Akerlof is the Nobel prize winning economist. Together, they have a son Robert Akerlof, who also teaches Economics at the University of Warwick.

Professional Career Highlights and Honors

Right after earning her doctorate in Economics, she went straight to Harvard and served as assistant professor from 1971 to 1976. She served as an economist with Federal Reserve Board of Governors during 1977-78. She then went to work as a lecturer at The London School of Economics and Political Science in 1978-80. In the early 1980s, Yellen taught macroeconomics to full-time and part-time MBA and conducted research at Haas School. She is now a Professor Emerita at the University of California, Berkeley’s Haas School of Business where she has received outstanding teaching award twice. She has received Eugene E. and Catherine M. Trefethen professor of Business and Professor of Economics honors twice.

Janet Yellen net worth grew as she got to serve as Chair of President Bill Clinton’s Council of Economic Advisers from 1997 to 1999. Before that, she was the member of the Federal Reserve Board of Governors from 1994 to 1997. Similarly, she is the president of the Western Economic Association International and was the vice president of the American Economic Association.

Her positions include serving as President and Chief Executive Officer of the Federal Reserve Bank of the San Francisco from 2004 to 2010. During this time, she spoke publicly in meetings of public committee. She talked about consequences of the boom in housing price.

Prestigious Positions

President Obama nominated Yellen to succeed Donald Kohn as Vice-Chair of the Federal Reserve System in 2010. Even though Senator Richard C. Shelby voted no claiming Yellen had “inflationary bias”, Yellen won the position on October 2010 which lasted until October 2014. She then turned to the member of the Federal Reserve Board which will expire in 2024.

Janet Yellen net worth increased as she replaced Bernanke as Chair of the Federal Reserve on January 2014. During her tenure in this position, she defended $3 trillion in funds that Fed was injecting into the US Economy. Yellen is the first democratic nominee for the chairman since 1979. Her term ends in 2018.

Economic Philosophy

The Wall Street describes her as “Dove” who is more concerned about unemployment than inflation. She advocates use of monetary policies instead of business cycle to stabilize economic activities. In Federal Open Market Committee Meeting held in 1995, she described letting inflation rise could be wise if it increases output. She also stated as the Board of Governors of the Federal Reserve System that GDP shall decrease with each percentage point.

Honors and Net Worth

Janet Yellen net worth began to rise from her early days when she was a student in Yale and Brown University. She received the Wilbur Cross Medal in 1997 from Yale. Similarly, she earned Doctor of Laws degree from Brown and Doctor of Humane Letters from Bard College in 1998 and 2000 respectively. She is also the receiver of an Honorary Doctorate from London School of Economics in 2015.

Her professional career served multiple high positions due to which she received a number of a honors that rose Janet Yellen net worth. National Association for Business Economics (NABE) honored her with Adam Smith Award in 2010. A couple of years later, American Economic Association elected her Distinguished Fellow in 2012. The same year, she became one of the 50 Most Influential people in Bloomberg Markets magazine.

In 2014, Janet Yellen net worth rose higher as Forbes listed her as one of the most powerful woman in the world. Yellen is the woman who never gets tired of accumulating knowledge. She received honorary Doctor of Social Science and Law from Yale and University of Warwick in 2015. The same year, Bloomberg Markets ranked her first in their list of 50 most influential economists and policymakers.

The prestigious awards and positions have increased Janet Yellen net worth and reputation high enough. The successful economist and Chair of the Federal Reserve has net worth of $13 million.

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