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Janet Yellen, who is poised to become secretary of the Treasury in the Biden administration, will immediately have her work cut out for her. The U.S. economy is in a precarious state and Congress is consumed by partisan politics.
Ms. Yellen, however, is no stranger to crisis or political machinations.
She served as a top economic adviser in the Clinton White House. She was among the first economists to spot the housing bubble. And as chairwoman of the Federal Reserve from 2014 to 2018, she helped navigate the country through the last major financial emergency.
Now, facing another steep challenge, we review her history-making career and look at the measures she might take to get the economy humming again.
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On today’s episode
Jeanna Smialek, who covers the Federal Reserve and the economy for The New York Times.
Background reading
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Ms. Yellen became an economist when few women entered the discipline. She is now set to become the first female Treasury secretary and one of the few people ever to have wielded economic power from the White House, the Federal Reserve and the president’s cabinet.
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While she may have excelled at some big jobs in the past, this role may be her hardest yet.
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Jeanna Smialek contributed reporting.
The Daily is made by Theo Balcomb, Andy Mills, Lisa Tobin, Rachel Quester, Lynsea Garrison, Annie Brown, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Larissa Anderson, Wendy Dorr, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, Kelly Prime, Sindhu Gnanasambandan, M.J. Davis Lin, Austin Mitchell, Neena Pathak, Dan Powell, Dave Shaw, Sydney Harper, Daniel Guillemette, Hans Buetow, Robert Jimison, Mike Benoist, Bianca Giaever, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Alix Spiegel, Diana Nguyen, Marion Lozano and Soraya Shockley. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Mikayla Bouchard, Lauren Jackson, Julia Simon, Mahima Chablani, Nora Keller, Sofia Milan and Desiree Ibekwe.
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