[ad_1]
Janet Yellen has a long history of working for Washington. He was also an advisor to former President Bill Clinton. Before becoming Chairman of the Fed, he served as Vice Chairman. Janet Yellen then made history by replacing Ben Bernanke. After taking on this responsibility as the first woman, there was a lot of praise for her in various media. The German news agency DPA has aligned itself with German Chancellor Angela Merkel and IMF President Christine Lagarde as influential women in the global money market.
If Yellen takes on this new responsibility, it will be one of the biggest challenges of her life. The United States is already in the grip of the biggest recession in history. In addition to resisting the crown, it has become difficult to keep the economy afloat. More than 1 crore of people are now unemployed in the country. Previously, Yale’s policy of focusing on employment rather than inflation made it famous. Despite rising inflation to raise official interest rates, Janet’s goal was to increase employment. With interest rates currently at zero, the Fed has limited power to strengthen the economy and address inequality. But Yellen can do it as finance minister.
In 2014, then-President of the United States, Barack Obama, recommended Larry Summers, former Secretary of the Treasury, for the position of chairman of the Federal Reserve, but Summers withdrew his candidacy due to criticism from the opposition. Then comes the Janet Yellen opportunity. But this time, Yellen prefers both progressive and central Democrats. Senator Elizabeth Warren said of Janet Yellen: “Janet Yellen is the right choice as Finance Minister. He’s smart, tough and ethical. ‘