Janet Yellen is leaving her position as chair of the US Federal Reserve. Photo / Andrew Harrer
Janet Yellen, who is stepping down as head of the Federal Reserve, will become a distinguished fellow at the Brookings Institution on Monday, joining former Fed Chairman Ben Bernanke at the Washington-based think-tank.
"I look forward to continuing to study the economy, especially issues related to the labor market, and
contributing to public policy debates on a range of economic issues," Yellen said in a statement released Friday by Brookings.
Yellen, 71, will part of the economic studies program and affiliated with the Hutchins Center on Fiscal and Monetary Policy at Brookings. Her term as chair ends on Saturday. Her successor, Jerome Powell, will be sworn in on Monday.
Yellen will see plenty of familiar faces at her first day in the new office. In addition to Bernanke, Brookings also boasts former vice chairs Alice Rivlin and Donald Kohn, as well as Nellie Liang, who joined last year after stepping down as head of the Fed division that keeps an eye on financial stability.
Bernanke wrote a book after leaving the Fed recalling his time during the financial crisis and also advises Pacific Investment Management Co. There's been no word so far on whether Yellen will pen a memoir of her experience at the helm of the US central bank or sign on with a financial firm.
