Federal Reserve Chair Janet Yellen Steps Down, Speaks at Stern


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Janet Yellen spoke to a crowd at Stern on Nov. 21 as part of the “In Conversation with Lord Mervyn King” Series.

Lorenzo Gazzola, Staff Writer

On Nov. 21, Janet Yellen, chair of the Board of Governors of the Federal Reserve System, spoke at the Stern School of Business as part of Stern’s “In Conversation with Mervyn King” series.

The series, which is hosted by Stern professor Mervyn King, Baron King of Lothbury and former Governor of the Bank of England, began in the fall of 2016 and has featured discussions with other notable figures like author Michael Lewis and MSNBC host Rachel Maddow.

The talk came one day after Yellen announced she will step down from her position in the Federal Reserve when Jerome Powell is confirmed as her replacement, making it one of her last appearances in her current role as chair of the Federal Board of Governors. The announcement followed President Donald Trump’s decision to not select Yellen, the first woman to head the central bank, for a second four-year term. Yellen is the first Fed chair to not be selected for a second term in almost four decades.

At the talk, Yellen and King discussed the present and future of the national economy as well as the largest challenges facing the central bank in the coming years, among other topics. While she did not discuss her not being appointed a second term, Yellen said that she had good relationships with both Barack Obama’s and Trump’s administrations.

Stern dean Peter Henry was enthusiastic about the talk.

“Presiding over the nation’s monetary policy, Chair Yellen is arguably one of the most influential people in the world, and we were honored to have her as a guest at NYU Stern where she shared her insights with hundreds of students and members of the NYU community,” Henry said.

Approximately 150 people attended the talk. The discussion was also broadcasted online through a live webcast.

Students who attended the discussion welcomed Yellen’s appearance on campus.

“It is great to have female role models in the field of economics come to speak at Stern,” LS sophomore Tilly Holmes said. “Especially with Yellen, it was one of her last appearances in her role at the Federal Reserve, so her taking the time to come and speak to us was fantastic.”

Email Lorenzo Gazzola at [email protected].