Janet Yellen—A Deserving Barack Obama Federal Reserve Nominee



I met Janet Yellen at the Federal Reserve Bank Conference on Community Development and the launch of the book, Invest in What Works, which is a product of the Federal Reserve Bank of San Francisco and the Low Income Investment Fund. The book offers an introspective practical solution driven look into the challenges of efforts to break the cycle of poverty in America through strong thriving communities. It highlights the pioneering community development work of the Harlem’s Children Zone in New York City, Purpose Built Communities which started in Atlanta and is now in seven other cities, and Neighborhood Centers Inc in Houston.

During the conference, Yellen’s interest in the groundwork of dozens of organizations who tackle the multiple and complex challenges of low-income families and the organizations that serve them was refreshing. She caught conference attendees pleasantly off guard and gave us insight into the Federal Reserve Bank’s national strategy for a slowing recovering national economy. We had no idea then that we were meeting a woman who could make history as the first woman Chair of the Federal Reserve.

This appointment is significant and President Obama is to be applauded along with the hundreds of economists and supporters who advanced her name as the right person at the right time.