Essays on Federal Reserve Board

Abstract

The US economy thrives on the proper functioning of the monetary policy of the government of the day. Interest rates, inflation and recession are all related and happen to influence proper functions of the government warranting their clear understanding. As a victim of a recent economic recession, a consideration of the role of interest rates on the overall functioning of the economy becomes particularly important. This paper shall seek to understand the concept of interest rates and how they affect the economy of the United States of America. The paper, in doing this, shall consider the causes of the ...

Biography for Janet Yellen

Janet Yellen was born on August 14, 1946, in Brooklyn, New York. Her mother was a teacher and the father a doctor. She attended Fort Hamilton High school. She excelled in many subjects and became the editor of the institution's newspaper and graduated as a valedictorian in 1963. She then attended Brown University and obtained a bachelor’s degree in economics in 1967. She proceeded to Yale University and received a Ph.D. in 1971. She married George Akerlof, a professor at the University of California at Berkeley and an economic noble prize winner in 1978. Yellen has one adult ...

Central Bankers:Jannet Yellen

Early Life and Education Born in 1946 in Brooklyn, New York, Janet Yellen is currently serving as chairman of Federal Reserve and is also the first woman to hold this position. Being a bright and intelligent student right from the school days, she was elected as editor- in-chief of her school newspaper and became valedictorian by the time she graduated from school in 1963. She then went on to study economics at Brown University, where she earned her bachelor degree in Economics in 1967. Thereafter, she enrolled at Yale University for her doctorate in economics, which she completed in ...