Will the Fed chair finally crack down on Wall Street?
Janet Yellen is in the running to become chairwoman of the Federal Reserve and that has many bankers and Wall Street titans worried.
The diminutive vice chairwoman of the U.S. central bank — an academic economist who is married to a Nobel Prize-winning economist — is known to be a formidable intellect and a force on the interest rate-setting Federal Open Market Committee. Her views on financial market regulation — an area where she’d have tremendous power as leader of the central bank — are less well-known.
“Her strengths are as an economist and thinking about macroeconomic policy and monetary policy,” said Tony Fratto, a former Treasury assistant secretary under President George W. Bush. “There’s no question that’s where the bulk of her experience is.”
The Center interviewed Yellen and reviewed her career through two stints on the Federal Reserve Board and as president of the San Francisco Fed Bank — including speeches, meeting transcripts, government testimony and reviews of bank failures.