Janet Yellen Awarded her Second Yale Degree

Janet Yellen Awarded her Second Yale Degree

Janet Yellen earned her second degree from Yale University, this time, a doctor of social science. She was awarded a Ph.D. in economics by Yale, in 1971.

Federal Reserve Chair Janet Yellen was honoured on Monday at the 314th commencement of the Ivy League school.

Yellen's qualities of "wisdom, clarity and calm" were praised by Peter Salovey, the University President. He mentioned how her innate qualities have helped in navigating a smooth financial path for the U.S. He also cited her research work which is focussed on reducing the levels of unemployment and improving "responsible economic growth" which will improve lives of people.

The U.S central bank has been working with the twin goals of promoting maximum employment at the same time curbing inflation.

There has been lot of speculation in recent months, regarding the time when the central bank will finally raise the interest rates. Critics say that the Fed must be concerned about the long-lasting low rates of interest which may lead to potential bubbles in asset prices like real estate and stocks which could drop fast leading to market instability at the time when the Fed ultimately decide to raises the long awaited interest rates.