JANET Yellen was confirmed as the first woman to lead the Treasury Department on January 25, 2021.
Yellen was previously chair of the Federal Reserve, but left the Fed to serve as an adviser to Joe Biden's campaign.
What is Janet Yellen's net worth?
As of 2020, Celebrity Net Worth reports Yellen's net worth to be around $16million.
Her wealth stems from her job as the former Chair of the Federal Reserve System from 2014 to 2018.
Yellen and her husband, Nobel Prize-winning economist George Akerlof, control assets between $8 and $20million
Yellen reportedly earned $7million between 2018 and 2020 from roughly 50 speaking engagements.
What did Yellen say about the income eligibility for the next stimulus check?
On Sunday, February 7, Yellen suggested the third coronavirus stimulus checks could be capped to those who make $60,000.
Yellen said that American workers who earn up to $60,000 per year should receive a stimulus check as part of the White House’s proposed $1.9trillion Covid relief package.
Speaking to CNN and CBS, the Treasury secretary said: “The exact details of how it should be targeted are to be determined, but struggling middle class families need help.”
Yellen went on to apply the argument to elementary school teachers and police officers making $60,000 income a year, saying, “It certainly seems appropriate that they can use that help to address the extra burdens from the pandemic.”
The White House has said it is open to negotiation on who should be eligible to receive the proposed $1,400 checks.
So far, it has declined to specify where it thinks the income cutoff should be.
Yellen added: “President Biden is certainly willing to work with members of Congress to define what’s fair and he wouldn’t want to see a household making over $300,000 receive these payments.”
She went on: “It has to go to people and households that do need the money and those are lower income households.”
Yellen argued that if Congress approved the $1.9trillion plan, the country would get back to full employment next year.
She added though the alternative is that unemployment would linger for years.
Who is her husband George Akerlof?
Akerlof is a professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California, Berkeley.
He was co-recipient of the Nobel Prize in Economic Sciences in 2001, along with Michael Spence and Joseph Stiglitz.
The Nobel Committee cited his 1970 paper, “The Market for ‘Lemons,’” "which for the first time described the role of asymmetric information in causing market perversity," according to Akerlof's Georgetown bio.
A Connecticut native, the 80-year-old Akerlof has been married to Yellen since 1978.
Source: Read Full Article