Janet Louise Yellen (born August 13, 1946) is an American economist and professor who is the Vice Chair of the Board of Governors of the Federal Reserve System. Previously, she was President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, Chair of the White HouseCouncil of Economic Advisers under President Bill Clinton, and Professor Emerita at the University of California, Berkeley's Haas School of Business.President Obama will nominate Yellen to replace Ben Bernanke as Federal Reserve chairman on October 9, 2013.[1]
She is an architect of its unprecedented stimulus program, will be nominated to succeed Ben S. Bernanke, a White House official said in an e-mailed statement. The announcement comes as President Barack Obama and Republican lawmakers continue to tussle over reopening the government and raising the debt ceiling, which had sent Treasury bill rates to the highest since October 2008. The Fed will today release minutes from its Sept. 17-18 meeting, at which officials unexpectedly maintained stimulus.
