Janet Yellen's Brooklyn Childhood Friends Remember When

Jewish Future Fed Chief Was Smart Cookie at Early Age

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By Reuters

Published October 10, 2013.
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Susan Stover Grosart, one of Yellen’s best friends since seventh grade, said the two of them preferred classical music and they would take advantage of free admission for students to concerts at New York’s Lincoln Center.

Before long, Yellen narrowed her many interests to economics, Grosart said.

“After she took her first economics course, economics was her favorite topic, and that’s what we talk about on the phone,” Grosart said. “Everyone’s trying to figure out what makes Janet tick. As far as I’m concerned, what makes her tick is that she’s a caring and thoughtful person who loves this country.”

As a boy, Rich Rubin, a retired professor of medicine who spent nine grades with Yellen and now lives in Portland, Oregon, said he frequently visited the Yellen home, where Yellen’s mother, Anna, held meetings as den mother to a troop of Cub Scouts.

Occasionally Janet Yellen lingered around the fringes of the all-boys group as they discussed literature.

“It was an urban environment, so instead of going out in the woods, we read,” Rubin said. “I remember her mom talking about books with us. It was clear the family was a very cultured family.”

Saydah said Yellen’s mother once tried to play matchmaker for her bookish daughter when she was nine or 10 years old with a boy who lived a block away and was also one of her Cub Scouts.

“In Janet’s mother’s eyes, he was a suitable mate for her daughter because, when he fulfilled a reading assignment, instead of reading a comic book like all the other boys, he came in and talked about reading ‘Treasure Island,’” Saydah said.

But the childhood romance fizzled. It turned out the boy failed to meet Anna Yellen’s standards.

“Later it became clear to Janet’s mother that he’d read the comic-book version of ‘Treasure Island,’” Saydah explained.

She would go on to marry and collaborate professionally with George Akerlof, himself an accomplished economist who shared a Nobel Prize in 2001.


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