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Sunday, April 18, 2021

Yellen lands new job at Brookings Institution

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen, the first woman to head the nation’s central bank, is not taking any time off. Her last day at the Fed is Friday. Then she will start a new job Monday at the Brookings Institution.

The Washington think tank says Yellen will be joining the institution’s Hutchins Center on Fiscal and Monetary Policy as a distinguished fellow in residence. One of her colleagues will be her predecessor, former Chairman Ben Bernanke, who joined Brookings in 2014 when he stepped down from the Fed.

Yellen is leaving after one term as Fed chair. President Donald Trump decided against offering her a second term and instead tapped Fed board member Jerome Powell. He will be sworn in Monday as her successor.

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