Janet Yellen (born August 13, 1946) is an American economist who served as the 15th Chair of the Federal Reserve from 2014 to 2018. She was also the first woman to hold this position. Yellen previously served as Vice Chair of the Board of Governors of the Federal Reserve System and President and CEO of the Federal Reserve Bank of San Francisco.
Yellen has had a major influence on cryptocurrency markets since her tenure at the Federal Reserve began in 2014. During her time there she was a supporter for increased regulation for digital currencies, which caused some unrest in crypto circles due to its potential effects on innovation. Her views have evolved somewhat over time; while still advocating for greater oversight she now acknowledges that “some elements” of cryptocurrencies can be beneficial to society, including their ability to facilitate fast payments and reduce costs associated with traditional banking systems.
In February 2021, it was announced that Yellen would serve as Treasury Secretary under President Joe Biden’s administration. As someone with both extensive knowledge about financial markets and enthusiasm towards technological progress, her appointment could potentially lead to more favorable policies regarding cryptocurrencies than those seen during prior administrations. The industry will likely remain cautiously optimistic until we see how these policies unfold in practice over time
