Janet Yellen Will Be the First Female Chair of the Federal Reserve

Illustration for article titled Janet Yellen Will Be the First Female Chair of the Federal Reserve

After months of bullshit, Janet Yellen is getting her job. The New York Times reports that she'll definitely be nominated at 3 pm Wednesday by President Obama, who was previously said to be more comfortable with the delightful Larry Summers. Yellen is currently Vice Chair and will be the first female chair of the Federal Reserve.


Yellen went to Brown University as an undergrad and got her Ph.D. in economics from Yale. In an extensive profile, the Times notes that her tenure will certainly include a focus on unemployment. They also write that much of the criticism she received from White House officials was a concern that she wouldn't "shake things up" enough, though that also means that her confirmation process should go fairly smoothly, even considering how cool Republicans are being these days. Another fun fact: she will be the first Democrat to be in charge of the Federal Reserve in almost 30 years.


Quartz is calling her "the most powerful woman in US history" because of "the unique position of the Federal Reserve as an independent part of the federal government as well as the power of the chairman within that institution." In April, Yellen told CNN she expected more women to lead banks as time went on. "I really think this is something we're going to see increase over time, and it's time for that to happen," she said.

Oh and the Times has also found a great article Yellen wrote for her high school paper:

[She] was the editor in chief of the student newspaper at Fort Hamilton High School in Brooklyn. She was also valedictorian of the class of 1963. So in keeping with a school tradition for the editor to interview the valedictorian, she interviewed herself.

In that article, Yellen noted to herself that she liked "attending Off Broadway theater, eating, riding the 69 St. Ferry, exploring New York City, and reading philosophy so that I can write unpopular essays. I studied piano for seven years and play for my own enjoyment. This season I also took a course in contract bridge.”

Contract bridge?! She really can do it all.

Obama to Pick Yellen as Leader of Fed, Officials Say [NYT]

For Yellen, a Focus on Reducing Unemployment [NYT]

Yellen’s Exclusive Interview, With Yellen [NYT]

Image via AP/Eugene Hoshiko

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She seems super capable. Hopefully she'll be better than Bernanke.