As soon as the newly elected president of the United States occupied the office Joe Biden is already in the process to pick his ideal team. According to recent updates, Janet Yellen is most apt to be Biden’s pick for treasury secretary. And if things go in her favour, she would be the first female treasury secretary.
Janet Yellen is an American economist and former chair of the federal reserve. She served in the office from 2014 to 2018 becoming the first woman to head the federal reserve. Before that, she has also taught at the University of California.
Let’s find out how much soon-to-be-treasury-secretary is worth.
Janet Yellen Net Worth is around $13 Million
Following 2013’s CNN reports which discloses Janet’s financial records which were listed between $4.8 million and $13.2 million of assets. As of 2020, according to Celebrity Net Worth, she is estimated to have a net worth of approximately $13 million.
She earned this million-dollar fortune majorly through her career as an economist. However, her recent nomination by the white house might make her earn more million in the near future.
Ex federal chief would be the first woman Treasury secretary
Recently president-elect Joe Biden nominates the economist to be the next treasury secretary. If her position is approved as the senate, then she would become the first woman to hold that position. Biden finds Yellen perfect for the position as her economics calibre would help recover destruction caused by the coronavirus pandemic and shutdowns.
Gary Cohn, Trump’s former top economic adviser believes Ms Yellen is an “excellent choice for Treasury secretary, “he continued,
“Having had the opportunity to work with then-Chair Yellen, I have no doubt she will be the steady hand we need to promote an economy that works for everyone, especially during these difficult times.”
To restore America’s falling economy with the help of Yellen’s decades of economic policy experience, Biden is all set to break the hundred-year-old gender barrier by putting a well-equipped economist and labour market expert in hold of the post.
Life before becoming the first woman head of federal reserve
Janet Louise Yellen was born on August 13 1946, in Brooklyn New York City to a Polish-Jewish family. She graduated in 1967 from Pembroke College in Brown University acquiring a degree in economics. Later in 1971, She received her PhD in Economics from Yale University.
Janet started her career becoming an assistant professor at Harvard and worked there for five years. In 1977, she joined the Federal Reserve Board of Governors. After serving for one year she became the Chair of the Council of Economic Advisors from 1997 to 1999 under the administration of Bill Clinton.