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Hi Janet! I really support your goal of maintaining price stability, as I too believe that low inflation is one of the most important problems that we face as heads of our respective Federal Reserves. However, I disagree with your belief that government intervention is necessary to fighting recession. If governments were to intervene, it would reduce long term growth, which is something that should be avoided – instead, the government should let the free market self correct, which will lead to greater growth in the long run.

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Contrary to your opinions, I'd like to think that we should allow the inflation to rise instead of implementing contractionary monetary policy. I think that implementing fiscal policy would be more beneficial - thus you should allow the government to run deficits especially if it is due to spending on infrastructure. Unfortunately, due to Trump, prospects for infrastructure spending seem slim, and his policies would most likely lead to crowding out effects.

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Janet! I really love your saying that in order to achieve credibility, it is important to clearly explain what you are doing and why. I agree that this principle applies to business because I feel like one needs to know clearly what they are doing also have confidence so they could apply their understandings to business.

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Yellen believed in “efficiency wages.” It argued that, contrary to the free-market model, lower wages can lead to higher unemployment.

She also argues that a lower wage would lead to dis-motivation of worker, making them to work less hard and if firms wants to maximize profit they would pay wages higher than the minimum wage.

Yellen Believes in the inverse relationship between unemployment and inflation rate (the philips curve) and believes that Government intervention is effectively to fighting recession

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Hello Ms Yellen! After reading your biography, I must say that all of your produced are quite impressive. Anyway, I also consider minimum wage as a form of discrimination against the low-skilled workers. However, each respected citizen is getting just what they deserve--receiving their income accordingly.

Moreover, I strongly believe that economic policy should focus on freedom as a primary value. Contrary to your belief, I encourage free markets as they are vital within a nation's economy.

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Janet! When you were chosen as to chair the Federal Reserve I was extremely happy. Your work has been fantastic and you proved that just recently when you gradually and cautiously increased our overnight interest rate over time so that market participants can be prepared for such a move in the coming months.

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"In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things."

"I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not unemployment."

"In government institutions, as in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and why. The same principles apply to business."

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The Fabulous Decade: Macroeconomic Lessons from the 1990s

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Besides from teaching in the Hass School of Business, I worked as a member of Board of Governors of the Federal Reserve System from 1994 to 1997. In later  years I became the Chairwoman of the Council of Economic Advisers under Bill Clinton's presidency from 1997 to 1999.

Starting from 2004 I work as the President and CEO, Federal Reserve Bank of San Francisco and became the Vice Chair, Federal Reserve Board of Governors in 2010. Four years later in 2013 I became the Chair, Federal Reserve Board of Governors.

In October 2013, I was nominated as chair of the Federal Reserve by President Barack Obama. Ever since then I have been working as the Chair woman of Federal Reserved, trying to achieve the goal of keeping price stability and high employment level

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After receiving my Ph.D. degree from Yale University, I became an assistant professor at University of Harvard from 1971 to 1976. In later years I became an economist with the Federal Reserve Board of Governors in 1977–78. After working as an economist in the Federal Reserve, I became a lecturer in The London School of Economics and Political Science from 1978-1980.

I left London School of Economics in 1980 and started teaching in Haas School of Business, University of California Berkeley. From 1980-1985 I worked as an assistant professor and from 1985- 2006, I started teaching macroeconomics to MBA (Master of Business Administration) and undergraduate students.  Although I no longer teach in Hass school, I am now a professor emerita at Hass School of Business.

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I was born to a Jewish family in Brooklyn, New York. I graduated from Brown university with a degree in economics in 1967. Latter I received my Ph.D. in economics from Yale University in 1971. Writing her dissertation "Employment, Output and Capital Accumulation in an Open Economy: A Disequilibrium Approach"