珍妮特·耶倫：男人世界里的新女性

She is a scholar， an economist， and also a politician.

She wears a short hair， always smiling.

She is a representative of “Doves” who cares about employment， stick to strict supervision and risk control.

She is the first woman to head the powerful US Federal Reserve (Fed) in its history of a hundred years，

She is Janet Yellen.

她，一頭銀色短發(fā)，是學者，是經濟學家，也是政客；

她，總是掛著溫和笑容；

她，是“鴿派”代表人物，重就業(yè)，嚴監(jiān)管，嚴風控。

她，是百年美聯(lián)儲的首任女掌門

她就是珍妮特·耶倫。

The first female head of Fed

新任女掌門

Janet Yellen is 68 years’ old now. She has a profound academic background and an outstanding working resume. She was born on August 3， 1946 in a Jewish middle class family in Brooklyn， New York. In 1967， she graduated from Brown University with Bachelor degree in Economics and obtained the grading of outstanding student. In 1971， she got Doctorate degree in Economics from Yale University. Then she got Honorary Doctorate degree in Law from Brown University and Honorary Doctor degree in Humanity from Barnard College in 1998 and 2000 respectively.

Yellen started working for Fed in 1977 as an economist， and then from 1994 to 1997， she was nominated by President Bill Clinton as a Governor. After that， she served as Chairman of the Economic Consultant Committee of US President and President of Federal Reserve Bank of San Francisco. In 2009， she got the rotating appointment as member of Federal Open Market Committee (FOMC).

On April 28， 2010， President Barack Obama nominated Janet Yellen to succeed Donald Kohn as Vice Chairman of Fed. On October 9， 2013， Barack Obama nominated Janet Yellen to succeed Ben Bernanke as Chairman of Fed. The senate eventually passed the nomination with 56 affirmative votes versus 26 negative votes. On February， 3， 2014， Yellen took the oath of office.

現(xiàn)年68歲的珍妮特·耶倫，有著深厚的學術背景和不凡的任職履歷。1946年8月3日，她出生于美國紐約布魯克林區(qū)一個中產猶太家庭。1967年，天資聰穎的她以優(yōu)等生成績從布朗大學畢業(yè)，獲經濟學學士學位，1971年，獲得耶魯大學經濟學博士學位。1998年和2000年，先后在布朗大學和巴德學院獲得法學名譽博士學位和人文主義文學名譽博士學位。

耶倫與美聯(lián)儲的淵源始于1977年她當時擔任美聯(lián)儲經濟學家。1994年至1997年，她由時任美國總統(tǒng)比爾·克林頓提名被任命為美聯(lián)儲理事，此后先后擔任過美國總統(tǒng)經濟顧問委員會主席、舊金山聯(lián)邦儲備銀行行長，并于2009年輪任聯(lián)邦公開市場委員會委員。

2010年4月28日，美國總統(tǒng)奧巴馬提名珍妮特·耶倫接替唐納德·科恩出任美國聯(lián)邦儲備委員會副主席。2013年10月9日，奧巴馬宣布提名耶倫接替伯南克出任下一任美聯(lián)儲主席。最終參議院以56票對26票的表決結果通過了對耶倫的提名。2014年2月3日，耶倫正式宣誓就職。

Some people have a meteoric rise in their career， like Barack Obama. It seems that they don’t come across any obstacles and sit on the most powerful seats. On the contrary， there are also people who go up slowly and steadily， but they are unstoppable. Obviously， Janet Yellen is one of the second type.

Yellen spent many years serving for Fed， from the initial economist in the research department， to a Governor， then to the President of Federal Reserve Bank of San Francisco， and to the No.2 figure of FED. Yellen is not a magical person. Her name has never been as bright as the previous chairman Bernanke， but she has moved forward in this path step by step until she won president Obama’s preference over previous economic advisor summers and won the highest and most powerful position in economic field: Chairman of FED last year， at the age of 67， as a new women in a world of men.

有一種人在事業(yè)上可謂平步青云，例如巴拉克·奧巴馬，他們似乎沒有遇到過多阻礙，就坐上了最高權利的寶座。但還有另一種人，他們的事業(yè)上升速度緩慢，卻勢不可擋。顯然，珍妮特·耶倫屬于第二種。

耶倫在美聯(lián)儲摸爬滾打多年，從最初研究部門的經濟學家，到美聯(lián)儲理事，到舊金山地區(qū)儲備銀行行長，再到美聯(lián)儲二號人物，耶倫并非傳奇女性，她的名字從來就沒有前任主席伯南克那般耀眼，但她一步一個腳印地走出了一條穩(wěn)步上升的軌跡，并且直到去年，67歲的她力克奧巴馬總統(tǒng)對前經濟顧問薩默斯的偏愛，贏得了代表經濟領域權利巔峰的職位：美聯(lián)儲主席。從此成為美聯(lián)儲這個男人世界里的新女性。

A much told tale of the economist

經濟學人的一段佳話

Many people pay attention to Yellen’s political experience in Fed and the White House. In fact， Yellen has profound academic achievements as well. She was an assistant professor in Harvard from 1971 to 1976， and then a lecturer in LSE from 1978 to 1980. She started working in Haas School of Business， UC Berkeley since 1980 and teaching macroeconomics to full time and part-time MBA students in 1980. She is now an honorary professor of Haas School of Business， UC Berkeley and has won Excellent Teaching Award twice. Yellen has written many influential papers that have been fully recognized by people in the academic field. She often writes books together with her husband， George Arthur Akerlof， professor of UC Berkeley.

Yellen’s career reached its peak in Fed， and she also harvested love in Fed. The love story of her and her husband is a much told tale. Yellen’s husband is the winner of 2001 Nobel Economics Prize. In late 1970s， they two met in a café in Fed. The two with same interests quickly fell in love and got married. After they got married， they conducted many influential researches together in UC Berkeley. Akerlof said in his self-introduction when he won the Nobel Prize: “What we have in common is not only characteristics. We’ve reached a nearly perfect consensus in macroeconomics.”

很多人都著重關注了耶倫在美聯(lián)儲和白宮工作的政治經歷，其實耶倫在學術上也有非常高的造詣。耶倫最早于1971年至1976年在哈佛大學任職助理教授，1978年至1980年來到倫敦政治經濟學院擔任講師，最后1980年在滿負盛譽的加州大學伯克利分校哈斯商學院從事研究工作，并為全職及兼職工商管理碩士學生教授宏觀經濟學，現(xiàn)為該學院的名譽教授，并曾兩次榮獲該學院的杰出教學獎。耶倫寫過的很多文章都被學術界廣泛引用并且影響深遠。她常常和自己的丈夫，伯克利教授喬治·阿克洛夫一起合著寫作。

耶倫的事業(yè)在美聯(lián)儲起步并達到巔峰，同樣也在美聯(lián)儲收獲了自己的愛情。她和丈夫的愛情故事被傳為佳話。耶倫的丈夫是2001年諾貝爾經濟學獎得主，20世紀70年代末，他倆一見鐘情于美聯(lián)儲的咖啡廳里，志趣相投的兩個人迅速墜入愛河并成立了家庭。婚后，倆人在加州大學伯克利分校任教期間合作完成了多項頗有影響的研究。阿克洛夫在獲得諾獎后的自我介紹中寫道，“我們不僅性格非常契合，而且在宏觀經濟學上也一直能達成幾乎完美的共識。”

Born in an economists’ family， their son Robert Akerlof also has deep interest in economics. He has devoted himself to economics. He is now 32 years’ old and a deputy professor in Warwick University in the UK. President Obama kidded during the nomination on what would be the topics at their dinner table. The three of them are all big fans of economics， and what they discuss must be different from what ordinary people do.

Their colleagues in UC Berkeley said that Yellen and Akerlof are meant to be a unusual couple. “How many Nobel Prize winners can study the same thing with their partners who are even more famous than them?”

值得一提的是，耶倫全家都是經濟學家。在耶倫及其丈夫的耳濡目染下，他們的兒子羅伯特·阿克洛夫也對經濟產生了濃厚興趣，投身于經濟領域研究。目前年僅32歲的他已經是英國華威大學的副教授。奧巴馬在提名時忍不住打趣說，可想而知耶倫一家三口——三個經濟學發(fā)燒友，在餐桌上討論的話題將是什么，和普通人應該不大一樣吧。

他們在伯克利的同事說，耶倫和阿克洛夫注定是一對不同尋常的伴侶?！澳苡袔讉€諾獎得主和他的人生伴侶從事一個領域的研究，而且在名氣上還略遜于自己的另一半呢？”

Strength is the absolute principle

有實力才是硬道理

On the 100th anniversary of Fed， it welcomed the first woman chairman in history. Obama called Yellen the “top economist and policy-maker in US” at the nomination ceremony. He spoke highly of her insight， judgment， and ability of understanding. American economists and marketing professionals also believed that this is a well-earned appointment. The CNBC commented earlier that “Yellen will definitely become the most powerful woman in the world. Her influence may exceed German Prime Minister Merkel and President of IMF Christine Lagarde.” Even Lagarde herself said that the new chairman of Fed is the “best choice”.

However， the world of Fed has always been a world of men. Yellen’s appointment is apparently a milestone of females in economic field. Although her female identity is very “appealing”， it is strength that makes Yellen be able to break the “glass ceilings” in a male-dominated world. In respect of professions， Yellen’s research places extra emphasis on labor market， and she studies in depth the reasons for unemployment， mechanism， countermeasures and market patterns in economic recession period.

在美聯(lián)儲百歲之際，迎來了歷史上首位女主席。奧巴馬在提名儀式中稱她為“美國最頂尖的經濟學家與政策制定者”，不吝贊美之辭，稱贊她出眾的洞察力、判斷力和理解力。美國經濟學家和市場人士也普遍認為，這是一項“出色的任命”。此前更有CNBC評論稱，“從美聯(lián)儲副主席晉升為主席的耶倫無疑將成為全球最有權勢的女性，其影響力甚至可能超越德國現(xiàn)任總統(tǒng)默克爾和國際貨幣基金組織主席克里斯蒂娜·拉加德?！本瓦B拉加德本人也表示，這位新任美聯(lián)儲主席是“現(xiàn)有的最佳人選”。

然而，央行的世界從來都是男人的天下，耶倫成功入主美聯(lián)儲當然算是女性在經濟領域的一大里程碑?？v然她的女性身份十分“吸睛”，但在這個男性主宰的世界里，能打破“玻璃天花板”的耶倫更多是靠實力說話。就專業(yè)而言，耶倫的研究領域側重于勞動力市場，對失業(yè)現(xiàn)象的原因、機制和對策以及經濟衰退時期就業(yè)市場模式有著深入研究。

According to her colleagues in Fed， although Yellen is a senior member of Fed， she always prepares a whole pack of materials for every meeting and always listens to others’ opinions before expressing her own ideas concisely and comprehensively. On many conferences， Yellen’s opinions are the final conclusions.

Focusing and seriousness is the most common comment for Yellen from her colleagues and friends. Former Vice Chairman of Fed Donald Kohn once said: “Yellen has keen minds and incomparable analysis ability.” Recently， Wall Street Journal analyzed 700 predication reports by 14 policy-makers of Fed and found that Yellen’s prediction of economic situations is the most precise one.

據(jù)昔日的美聯(lián)儲同事介紹，雖然耶倫是美聯(lián)儲元老級人物，但每次開會時，耶倫永遠帶著滿滿一整包資料，并且雖是有備而來但卻不急于發(fā)表意見。先專注聆聽其他人發(fā)言，最后再言簡意賅、重點陳述意見。因此在很多會議上，耶倫的意見最后都會成為會議結論。

行事專注、認真是耶倫大多數(shù)同事和朋友對她的評價。前任美聯(lián)儲副主席唐納德·科恩就曾評價說，“耶倫思維敏銳，分析能力鮮有人能及”。日前，華爾街日報在對美聯(lián)儲14位政策制定者的700份預測報告分析后得出結論，耶倫對經濟形勢的預測最準確到位。

Multiple Challenges

挑戰(zhàn)重重

When accepting the nomination by Obama， Yellen expressed her determination of solving the unemployment issues in her Brooklyn accent – this is a well-known signature during her term as Vice Chairman of Fed. “Although we’ve made some progress， there is still a long way to go.” She said， “There are still too many Americans who cannot find jobs and are worried about paying bills and supporting families.” As the successor of Ben Bernanke， Yellen will face multiple challenges after assuming the office， like the balance sheet of 4000 billion dollars after several rounds of “quantitative easing” policy.

在接受奧巴馬總統(tǒng)提名時，笑容舒展的耶倫操持著她的布魯克利口音，表述了自己解決居高不下的失業(yè)率問題的決心——這是她擔任美聯(lián)儲副主席期間廣為人知的一張名片。“盡管我們取得了一些進展，但前面還有一段路要走。”她說，“還有太多的美國人仍沒有找到工作，仍愁著如何才能支付各種賬單、才能供養(yǎng)家庭?！弊鳛椴峡说慕影嗳?，耶倫上任后無疑將面對多重挑戰(zhàn)。比如，美聯(lián)儲幾輪“量化寬松”政策后接近4萬億美元的龐大資產負債表。

Yellen said， “Powerful economic recovery process will make Fed curtail monetary easing policy and lower the degree of dependence on untraditional tools like asset purchase plans. I think the support for the current economic recovery process is that we should choose a reliable path and then return to a more normal monetary policy.”

“Since the ‘dark times’ of financial crisis， the economic situations and financial system of US have made great progress， but there are still important work to do to reconquer the land lost in financial crisis and economic recession.”

However， on February 13， 2014 when Yellen accepted the inquiry of the Finance Service Committee of the US Senate， she admitted: “From multiple angles， our employment market hasn’t returned to its normal status.”

耶倫表示，“強勁的經濟復蘇進程最終將令美聯(lián)儲能夠縮減其貨幣寬松措施，并降低對于資產購買計劃等非傳統(tǒng)工具的依賴程度。我認為，在今天對經濟復蘇進程形成支撐的是，我們需要走一條最可靠的道路，隨后才重返更加正?；呢泿耪摺！?/p>

“自從‘金融危機的黑暗時期’以來，美國的經濟狀況和金融體系都已經取得了很大的進展，但未來仍有很多的重要工作需要去做，才能“收復在金融危機和經濟衰退周期中所失去的地盤”。

然而，2014年2月13號耶倫接受眾議院金融服務委員會的聽證質詢時承認，“從多種角度來看，我們的就業(yè)市場還沒有回歸常態(tài)?！?/p>

Yellen has made history， but her Fed time has just begun.

耶倫已經創(chuàng)造了歷史，但耶倫的美聯(lián)儲時代才剛剛開啟。