Janet Yellen is an American economist specializing in the labor market and monetary policy. She chaired the Federal Reserve of the United States from 2014 to 2018, becoming the first woman to hold this position, and later served as Secretary of the Treasury from 2021 to 2025 — again the first woman appointed to this office.
Janet Yellen(1946 — ?)
Janet Yellen
États-Unis
5 min read
Frequently asked questions
Key Facts
- A graduate of Yale (PhD in economics in 1971), she became a recognized expert in labor economics.
- In 2014, she became the first woman to chair the Federal Reserve of the United States (until 2018).
- In 2021, she was appointed Secretary of the Treasury by President Joe Biden, the first woman in this role (until 2025).
- She steered American monetary policy after the 2008 crisis and then the fiscal response to the Covid-19 pandemic.
Works & Achievements
The first woman to lead the Fed, she oversaw the recovery following the 2008 crisis and cautiously began raising interest rates.
The first woman to hold this office, she managed the post-Covid recovery and championed a global minimum tax on multinational corporations.
Under Bill Clinton, she advised the White House on economic policy during a period of growth.
Her academic work, sometimes carried out with George Akerlof, explains why unemployment can persist, influencing modern economic theory.
She played a key role in the international negotiation of a 15% minimum tax rate for large corporations.
Anecdotes
In 2014, Janet Yellen became the first woman to chair the Federal Reserve in the institution's more than one hundred years of existence. She inherited an economy slowly recovering from the 2008 crisis and had to decide when to raise interest rates without derailing the recovery.
Janet Yellen and her husband, George Akerlof, are both renowned economists. He won the Nobel Prize in Economics in 2001, and the couple have published research together: a true household where the labor market gets discussed over breakfast.
In 2021, she became the first woman to serve as U.S. Secretary of the Treasury. Since she had also chaired the Fed and the White House Council of Economic Advisers, she is the only person in American history to have held all three of these major economic offices.
Nicknamed by some the “dove” of monetary policy, Yellen is known for prioritizing employment: she often reminded people that behind the unemployment statistics lie real families, and that a central bank must think about workers as much as about inflation.
During her time at the Treasury, she repeatedly issued warnings about the American “debt ceiling,” cautioning Congress that if the limit were not raised, the government risked being unable to pay its bills — an unprecedented and dangerous situation for the global economy.
Primary Sources
The Federal Reserve's mandate, set by Congress, is to serve all Americans, and too many of them still cannot find work.
To rebuild the economy, we must act fast: without more relief, we risk a longer and more painful recession.
If Congress does not act to raise or suspend the debt limit, the Treasury will be unable to meet the financial obligations of the government.
Key Places
Borough of New York City where Janet Yellen was born in 1946, into a middle-class family. Her father worked there as a neighborhood doctor.
University where she earned her doctorate in economics in 1971. There she shaped her thinking on unemployment and the labor market.
Headquarters of the American central bank where she chaired the monetary policy committee from 2014 to 2018. This is where interest rates are decided.
The American finance ministry, which she led as Secretary of the Treasury from 2021 to 2025. The building sits right next to the White House.
University where she taught economics for many years as a professor at the Haas School of Business. A large part of her academic career unfolded here.
Typical Objects
Small mallet used to open and close the meetings of the monetary policy committee (FOMC). It symbolizes the chair's authority during decisions on interest rates.
The central bank's main lever, this benchmark interest rate influences the cost of credit throughout the economy. Raising or lowering it is the most closely watched decision the Fed makes.
As Secretary of the Treasury, her signature appears on the dollar bills printed during her term. It is a concrete mark of the monetary authority of the United States.
Monthly statistical document detailing unemployment and job creation in the United States. A labor market specialist, Yellen paid especially close attention to it.
Neat, understated work attire worn during her public appearances and hearings. Her colorful scarves became a small personal signature.
Before Senate and House committees, she answered lawmakers' questions about the economy. These televised hearings are a central ritual of American political life.
School Curriculum
Vocabulary & Tags
Key Vocabulary
Tags
Daily Life
Morning
Her morning begins early with reading the latest economic data: employment figures, inflation, financial markets. She reviews notes and summaries prepared by her teams before the first meetings.
Afternoon
The afternoon is paced by working meetings, hearings before Congress, or calls with foreign leaders and central bankers. Every word she utters in public can move the markets.
Evening
In the evening, she often continues reading reports and memos. An economist at heart, she also enjoys discussing economics with her husband, himself a Nobel laureate.
Food
Her diet is that of an American academic and senior official: simple meals, often grabbed on the go between two meetings. Working lunches and official dinners are part of her role.
Clothing
She favors understated, professional suits, accented with colorful scarves or collars that have become a little signature of hers. Her attire reflects the rigor expected of a finance official.
Housing
She lives in a comfortable setting of the intellectual upper middle class, long in California near Berkeley, then in Washington during her federal service.
Historical Timeline
Period Vocabulary
Liens externes & ressources
Références
Œuvres
Présidence de la Réserve fédérale
2014-2018
Secrétaire au Trésor des États-Unis
2021-2025
Présidence du Conseil des conseillers économiques
1997-1999
Recherches sur le marché du travail et le chômage
années 1980-1990
Soutien à l'accord mondial sur l'impôt des multinationales
2021
