Yellen, Departing Fed, Will Join Brookings
WASHINGTON — Janet L. Yellen, who accomplished her time period as Federal Reserve chairwoman on Friday, plans to begin a brand new job on Monday morning as a fellow in financial research on the Brookings Institution.
Ms. Yellen will observe a well-worn path from the Fed’s marble headquarters on Constitution Avenue to the close by Brookings constructing on Massachusetts Avenue. The roster of Brookings fellows contains her speedy predecessor as Fed chairman, Ben S. Bernanke, and no fewer than three of her predecessors as Fed’s vice chairman: Donald Kohn, Alice Rivlin and Alan Blinder.
“I’m delighted to be becoming a member of the Brookings Institution,” . “I stay up for persevering with to check the economic system, particularly points associated to the labor market, and contributing to public coverage debates on a variety of financial points.”
For Brookings, Ms. Yellen’s arrival fortifies its current give attention to financial coverage, a topic that has commanded considerably larger public curiosity and scholarly debate for the reason that 2008 monetary disaster.
“I congratulate Janet on her excellent public service and stay up for being her colleague on the Brookings Institution,” .
For Ms. Yellen, 71, it’s a new skilled dwelling. She and her husband, George Akerlof, had been longtime professors on the University of California, Berkeley, the place they nonetheless personal a home, however Mr. Akerlof is now a professor at Georgetown University.
Ms. Yellen’s four-year time period on the Fed ended on a excessive observe Friday. The authorities estimated that , whereas the unemployment charge held at Four.1 p.c. It is the primary time the economic system has added jobs throughout each month of a Fed chair’s tenure.
Fed Up, a coalition of unions and neighborhood teams, mentioned it will ship an enormous “Thank You” card to the Fed on Friday afternoon to rejoice Ms. Yellen’s success in decreasing unemployment.
Fed workers have celebrated Ms. Yellen’s tenure this week by carrying shirts or jackets with the collar turned up, or “popped,” a mode that Ms. Yellen has made acquainted in her public appearances.
Jerome H. Powell, who will likely be sworn in as Fed chairman on Monday morning, in tribute to Ms. Yellen at a ceremony Thursday within the Fed’s grand atrium.
Staff bids farewell to Chair Janet Yellen as she finishes her Four-year time period
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