Janet Yellen Brings Jewish Side to Fed — Again

Image by getty images
President Obama’s nomination of Janet Yellen to be the next chair of the Federal Reserve will, if confirmed by the Senate, make her the first woman to lead the bank since its creation nearly a century ago. But she’ll be far from the first Jew.
Yellen, whose nomination to head America’s central bank was reported Tuesday, will follow her immediate predecessor Ben Bernanke who was Jewish, and Bernanke’s immediate predecessor, Alan Greenspan, who was Jewish, too. There have been two other Jewish fed chairs in the past century. In fact, the other frontrunner for the position, Lawrence Summers, was Jewish too.
Yellen, 67, was born in a working class neighborhood in Brooklyn, New York, to Julius Yellen, a family doctor, and Anna Blumenthal, who was a school teacher. A recent profile of Yellen published in the Financial Times described the family as “Jewish, although not particularly observant.”
Yellen studied economics at Brown and Yale and has spent nearly two decades in the academic world before joining president Clinton’s economic team. She served as a Federal Reserve governor, chair of the Council of Economic Advisers, chair of the San Francisco Fed, and until now, vice chair of the Federal Reserve Board of Governors.
In these positions, Yellen has established her credentials as a leading economist who was among the first to speak out against the dangers posed by subprime mortgages. As vice chair of the Fed Yellen supported Bernanke’s policy of maintaining low interest rates and has viewed dealing with unemployment as the key challenge facing the Federal Reserve.
In 1978 Yellen married economist George Akerlof, who is also Jewish. Akerlof won the Nobel prize for economics in 2001 with two other Americans. While living in Berkley, Calif., Yellen and Akerlof were members of the Reform Congregation Beth El, where their only son attended pre-school.
Jewish activists involved in the Bay Area community, as well as those from the Jewish community in Washington, where Yellen has been living off and on, could not recall any further involvement by her in Jewish life or in Jewish organizations. An economist friend of Yellen told the Forward that he knows she is Jewish, “but that’s about it.”
While most expect no problems with Yellen’s confirmation in the Senate, her real challenges will begin once she takes the reins of the central bank in January. After an eight-year term of Bernanke, who focused on trying to bring back the American economy from the brink of recession, Yellen will face the need to make key decisions on the way forward and the level of the Federal Reserve’s active involvement in economic policies.
The Forward is free to read, but it isn’t free to produce

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward.
Now more than ever, American Jews need independent news they can trust, with reporting driven by truth, not ideology. We serve you, not any ideological agenda.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse.
This is a great time to support independent Jewish journalism you rely on. Make a gift today!
— Rachel Fishman Feddersen, Publisher and CEO
Support our mission to tell the Jewish story fully and fairly.
Most Popular
- 1
Culture Cardinals are Catholic, not Jewish — so why do they all wear yarmulkes?
- 2
Fast Forward Ye debuts ‘Heil Hitler’ music video that includes a sample of a Hitler speech
- 3
News School Israel trip turns ‘terrifying’ for LA students attacked by Israeli teens
- 4
Fast Forward Student suspended for ‘F— the Jews’ video defends himself on antisemitic podcast
In Case You Missed It
-
Opinion This week proved it: Trump’s approach to antisemitism at Columbia is horribly ineffective
-
Yiddish קאָנצערט לכּבֿוד דעם ייִדישן שרײַבער און רעדאַקטאָר באָריס סאַנדלערConcert honoring Yiddish writer and editor Boris Sandler
דער בעל־שׂימחה האָט יאָרן לאַנג געדינט ווי דער רעדאַקטאָר פֿונעם ייִדישן פֿאָרווערטס.
-
Fast Forward Trump’s new pick for surgeon general blames the Nazis for pesticides on our food
-
Fast Forward Jewish feud over Trump escalates with open letter in The New York Times
-
Shop the Forward Store
100% of profits support our journalism
Republish This Story
Please read before republishing
We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines.
You must comply with the following:
- Credit the Forward
- Retain our pixel
- Preserve our canonical link in Google search
- Add a noindex tag in Google search
See our full guidelines for more information, and this guide for detail about canonical URLs.
To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.