Monetary Policy
On inflation targeting: A speech by Ben Bernanke at the Reserve Bank of New Zealand
Washington, D.C. — The Brookings Institution and its Hutchins Center on Fiscal and Monetary Policy are delighted to welcome Janet Yellen, who most recently served as the 78th secretary of the treasury of the United States, back to the Brookings community. Yellen rejoins Brookings as a distinguished fellow in residence within the Economic Studies research program. She previously served as a distinguished fellow in residence in the Hutchins Center from 2018 to 2021.
An economist by training, Yellen has an accomplished career spanning public service and academia. She previously served as chair of the Federal Reserve Board (2014-2018), vice chair of the Federal Reserve Board (2010 to 2014), president and chief executive officer of the Federal Reserve Bank of San Francisco (2004 to 2010), and chair of the Council of Economic Advisers during the Clinton administration. Yellen is currently professor emerita at the University of California, Berkeley, where she has been a faculty member since 1980. Prior to Berkeley, she was assistant professor of economics at Harvard University (1971-1976), an economist at the Federal Reserve Board (1977-1978), and a lecturer at the London School of Economics (1978-1988).
“I am truly thrilled to welcome Janet back to Brookings,” said Cecilia Elena Rouse, president of the Brookings Institution. “She is a phenomenal economic mind, with an unparalleled depth of expertise and experience, having made history as the first person to lead the White House Council of Economic Advisers, the Federal Reserve, and the U.S. Treasury Department. Beyond her incredible professional accomplishments, she is also a close personal mentor and friend, whose return will undoubtedly enrich the thoughtful, collegial, and intellectually vibrant community here at Brookings.”
“Janet Yellen is one of the most respected and influential economists in the world, and we are thrilled that she will be returning to Brookings following her tenure as Treasury secretary,” said Ben Harris, vice president and director of Brookings’ Economic Studies program. “After serving as an assistant secretary and counselor in her Treasury Department, I can say that I know of no other economist who is more beloved, credible, and respected than Janet Yellen. The Economic Studies program is honored by her return.”
From 2020 to 2021, Yellen served as President of the American Economic Association. She is a member of the American Academy of Arts and Sciences and the Council on Foreign Relations. She was also a founding member of the Climate Leadership Council. Yellen has served on the advisory boards of the Bloomberg New Economic Forum, the Committee for a Responsible Federal Budget, and the Washington Center for Equitable Growth Steering Committee. She was elected to the Yale Corporation as an alumni fellow in 2000, serving until 2006.
Yellen has received honorary doctorates from Bard College, Brown University, the London School of Economics, New York University, the University of Baltimore, the University of Michigan, the University of Warwick, and Yale, from which she also received the Wilbur Cross Medal for distinguished achievements in scholarship, teaching, academic administration, and public service.
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