Federal Reserve Chair Janet Yellen will begin work Monday morning as a distinguished fellow at the Hutchins Center on Fiscal along with Monetary Policy at the Brookings Institution in Washington, D.C., CNBC has learned.
In heading to Brookings, Yellen follows within the steps of former Fed Chairman Ben Bernanke along with former vice chairmen Donald Kohn along with Alan Blinder, along with former top Fed staffer Nellie Liang.
Yellen, 71, spent nearly 17 years within the Federal Reserve system: four as chair, four as vice chair, three as a Fed governor along with six as San Francisco Fed president.
Her term ends This particular weekend along with Jerome Powell will be to be sworn in Monday as chairman of the Federal Reserve Board of Governors.
“Chair Yellen has performed a great service to her country — the economy along with the American people were in not bad hands with her at the helm of our central bank,” Brookings President John Allen said in a statement. “Yellen will continue in which service through her research along with activities at Brookings, along with I’m proud to welcome her to the Brookings community.”
The Hutchins Center seeks to “improve the quality along with efficacy of fiscal along with monetary policies along with public understanding of them,” according to the Brookings website.
“I’m delighted to be joining the Brookings Institution. I look forward to continuing to study the economy, especially issues related to the labor market, along with contributing to public policy debates on a range of economic issues,” Yellen said in a Discharge through Brookings.