Why Yellen Became the Most Powerful Woman in Finance

Treasury secretary of the United States of America, the most powerful job in finance. And the next person to do it will be Janet Yellen. So, it is important to understand what she is all about.

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The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

Ascending to the financial throne after Steve Mnuchin, Yellen will be responsible for U.S. economic policy, tax policy, fiscal policy, as well as managing government debt. Obviously, this is a key position for those of you living in the United States. But, it’s also key for those outside of it because of the massive role the Dollar and U.S. economy play in the global economy. After all, stimulus in the U.S. often leads to higher exports in the rest of the world.

So, with Janet Yellen being confirmed by the senate shortly (her confirmation hearing is on the 19th of January), it makes sense that you wonder who is Janet Yellen? What are her qualifications? And, most importantly, what can we expect from her tenure as Treasury secretary?

Yellen has a super impressive CV. She has a PhD from Yale, where she had some Nobel winning supervisors such as James Tobin and Joseph Stiglitz. Next, she worked at elite universities such as Harvard, the London School of Economics (LSE) and University of California Berkeley. Also, she served on several government advisory boards and was local chairwoman at the San Francisco Fed, vice chairwoman and later chairwoman at the Fed. Finally, she has published (partly co-authored with her Nobel winning husband George Akerlof) in elite journals such as the American Economic Review, Quarterly Journal of Economics, and the Journal of Monetary Economics.

She is a Keynesian economist with dovish views on the monetary policy and a tough on big business streak. But, will she be a dovish Treasury secretary as well?

Check out the full script at https://www.moneymacro.rocks/2021-01-19-yellen-treasury-secretary/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-sch...

Attribution:

- Brown university from Official YouTube channel Creative Common license
- Brookings institute from: Millennial Monitor YouTube channel Creative Common license

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