Yellen

Definition

Janet Yellen is an American economist who served as the Chair of the Federal Reserve from 2014 to 2018 and is currently the Secretary of the Treasury. Yellen has played a significant role in shaping U.S. monetary policy, particularly in response to economic crises and inflation.

5 Must Know Facts For Your Next Test

1. Janet Yellen was the first woman to serve as Chair of the Federal Reserve.
2. Yellen's tenure at the Federal Reserve focused on reducing unemployment while maintaining low inflation rates.
3. She played a crucial role in navigating the U.S. economy through recovery post-2008 financial crisis.
4. As Secretary of the Treasury, Yellen has emphasized tackling issues like income inequality and climate change.
5. Her policies often reflect Keynesian economic principles, which advocate for government intervention during economic downturns.

Review Questions

• What significant role did Janet Yellen play at the Federal Reserve?
• How did Yellen's monetary policy approach address unemployment and inflation?
• In what ways has Yellen impacted U.S. economic policy as Secretary of the Treasury?

Related terms

Federal Reserve: The central bank of the United States responsible for setting monetary policy.

Monetary Policy: Actions taken by a central bank to influence a nation's money supply and interest rates.

Keynesian Economics: An economic theory advocating for increased government expenditures and lower taxes to stimulate demand and pull an economy out of depression.