Janet Louise Yellen is an American economist who has been the 78th United States Secretary of the Treasury since January 26, 2021. She was previously the 15th chair of the Federal Reserve from 2014 to 2018. Yellen is the first woman to hold each of these positions, and she is the first person to already have led the White House Council of Economic Advisers, the Federal Reserve, and the Treasury Department.
On Wednesday, Treasury Secretary Janet Yellen blamed the near 40-year high in inflation on consumers’ excessive spending habits. The Biden official appeared on “The Late Show with Stephen Colbert” and was asked about the price increases that have afflicted the United States for more than a year.
Apart from her professional life, Janet Yellen is a married woman. She has been happily married to George Akerlof. In this post, we’ll discuss all the details about Janet’s husband and their relationship details.
All You Need To Know About George Akerlof, Janet Yellen’s Husband
Akerlof is a professor at both Georgetown University’s McCourt School of Public Policy and the University of California, Berkeley’s Koshland Professor of Economics Emeritus.
Along with Michael Spence and Joseph Stiglitz, he shared the 2001 Nobel Prize in Economic Sciences.
The Nobel Committee quoted his 1970 paper “The Market for “Lemons,” which, according to Akerlof’s Georgetown bio, “explained for the first time the role of asymmetric information in causing market perversity.”
George Akerlof And Janet Yellen’s Relationship Details
The first time Akerlof and Yellen met was in a Federal Reserve cafeteria. In 1977, Yellen worked for the Federal Reserve Board of Governors as a research economist. According to the Washington Post, Yellen took the job after she was denied tenure at Harvard University, where she taught from 1971 to 1976.
Akerlof was working for the Federal Reserve in Washington, D.C., on a temporary basis. According to Reuters, Akerlof was put in charge of the organization’s research department. He met Yellen for the first time in the fall of 1977 in the Fed’s cafeteria, and it didn’t take long for sparks to fly.
In June 1978, less than a year after they initially met, Yellen and Akerlof got married. Akerlof got a job at the London School of Economics and wanted Yellen to go with him.
He told the Nobel Foundation about their quick love affair, “We instantly fell in love and decided to marry. Not only did our personalities mesh perfectly, but we were also almost always on the same page when it came to macroeconomics. Our only difference is that she is a little more pro-free trade than I am.”
“We decided to marry quickly not only because we trusted each other so much, but also for practical reasons. I had already accepted a professorship at the LSE for the coming year, and Janet would need to find work in England as well if we were to avoid being separated. Luckily, she was also appointed to a tenure-track lectureship at the LSE.”