ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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She was the first person appointed Fed Reserve Chair.
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She convinced Congress to eliminate the Federal Reserve in the 1960s.
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She was the first woman appointed to be Fed Chair and the first female Treasury Secretary.
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She led the Federal Reserve through the 2008-09 financial crisis and recession.
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Detailed explanation-1: -“One of the things I’m looking forward to is getting my 5-year-old goddaughter a copy of a bill signed by two women, including Janet Yellen, who is the first woman in more than 200 years to be the secretary of the Treasury.”
Detailed explanation-2: -Yellen served as a member of the Federal Reserve Board of Governors from 1994 to 1997 and was nominated to the position by President Bill Clinton, who then named her chair of the Council of Economic Advisers from 1997 to 1999.
Detailed explanation-3: -Karen Horn was the sixth president of the Federal Reserve Bank of Cleveland and the first woman president in the Federal Reserve System. She served from May 1, 1982, until her resignation on April 8, 1987.
Detailed explanation-4: -Janet Louise Yellen is an American economist and educator. As a member of President Joe Biden’s Cabinet, Yellen is the first woman to head the U.S. Treasury Department and the Federal Reserve. She is the first person in history to head both of those groups and the White House Council of Economic Advisors.