The American economist and professor Janet Yellen. She assumed her position as the 78th United States Secretary of the Treasury in 2021. In 2021, she broke the glass ceiling and started working in that division. To her country’s economy, she has been a great asset, and for that, she has received much appreciation. Obama once called her “one of the best economists and policymakers in America,” according to Investopedia.
Janet attended Brown University in Rhode Island for her economics degree. At first, she decided to pursue university study in Philosophy. Herschel Grossman and George Herbert Borts influenced her to change her major to economics.
As soon as she received her bachelor’s degree in 1967, she started graduate school. After completing her doctorate, she dabbled in a few different fields. Their success in her chosen profession is partly responsible for her current financial status. Here, without further ado, are the specifics of her path to financial success.
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Income and Resources
As of January 1, 2021, the US Secretary of the Treasury is to be paid a prescribed salary of $221,400. However, Yellen earns more with the government because of her status as a well-known economist. Speaking engagements have been the primary source of her fortune. She earned $7.26 million from speaking engagements in just two years (2019–2020).
During that time, she delivered over fifty speeches to organizations like Goldman Sachs, Barclays, Citadel, and Citigroup. The prestige of the universities where she taught likely meant that she earned a substantial income. There is a $20 million estimate on her wealth right now.
Birth and Childhood
Yellen, Janet Louise, entered the world on August 13, 1946. She and her brother John grew up in Bay Ridge, New York City. Their parents are Polish Jews. Anna was a teacher and Julius was a doctor; both of her parents were influential in her life.
She excelled academically and was named valedictorian of her class at Fort Hamilton High School, where she was active in numerous activities. At Brown University, she studied at Pembroke College.
In retrospect, it was wise of young Janet to shift her focus from philosophy to economics. Immediately following her high school graduation with honors, she enrolled at Yale University to pursue her master’s degree, and in 1971 she received her doctorate from Yale.
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Starting out In Your Profession
Yellen began her professional career in 1971 as an assistant professor of economics at Harvard. Six years later, she left to become a member of the Federal Reserve’s Board of Governors, and then, years after that, she became a professor at the London School of Economics.
She began her career in business education in 1980 at the Haas School of Business at the University of California, Berkeley. Janet was a renowned economist and lecturer who won multiple awards for her work.
She mostly dealt with issues of international trade, unemployment, and the state of the economy in her writing. The “reproductive technology shock” and “efficiency wage models” are two of her most influential works.
Projects by The Government
Janet was selected to serve on the Board of Governors of the Federal Reserve System in 1994, during which time she took a leave of absence from the University of California, Berkeley. In 1997, she left to lead the Council of Economic Advisers.
In 1999, the professor returned to the classroom, but in 2004, he was back at the Federal Reserve. 2014 saw her appointment as the 15th head of the Federal Reserve. In 2018, she departed the Fed to join the think tank Brookings Institution.
If the 2020 election were held today, President Joe Biden would have voted to nominate Janet Yellen to be the United States Secretary of the Treasury. The Senate finally gave its stamp of approval the next year. In her new role, one of her most notable actions has been advocating for the regulation of cryptocurrencies. To her, cryptocurrency is “extremely dangerous,” so much so that it shouldn’t be invested in by retirees.
