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NPR's Book of the Day

A new biography of Janet Yellen offers a personal look at the trailblazing economist

NPR's Book of the Day

NPR

Books, Arts

4.2672 Ratings

🗓️ 9 January 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

Janet Yellen's career has shattered several glass ceilings; she was the first female head of the Federal Reserve, and she's now the first woman serving as Secretary of Treasury. In this episode, author and journalist Jon Hilsenrath discusses his new biography of her, Yellen, and how her upbringing and marriage reveal a lot about her professional path. Hilsenrath explains to Here & Now's Scott Tong that the love story of Yellen and her husband actually offers insight into the delicate line between democracy and capitalism, and how in a time of economic upheaval, policymakers are bound to make mistakes.

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Transcript

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0:00.0

Hey, it's NPR's Book of the Day. I'm Andrew Limbong. There's a funny line in today's

0:07.1

interview about how the American story is a marriage, not like between Northern South or Republican and

0:13.2

Democrat or anything like that, but instead between Democratic governance and free market capitalism.

0:19.5

The guy who says it is John Hilsenrath, a Wall Street

0:21.8

Journal reporter who just wrote a new biography about Janet Yellen, the towering figure in

0:26.7

economics, who was the first female head of the Federal Reserve, and is now Secretary of the Treasury.

0:32.0

It's titled, Yellen, the trailblazing economist who navigated an era of upheaval. And he talked to hear now,

0:38.1

Scott Tong, about how Yellen's own marriage kind of mirrors that American one between democracy

0:43.6

and the market. In the U.S., national security news can feel far away from daily life.

0:49.6

Distant wars, murky conflicts, diplomacy behind closed doors on On our new show, Sources and Methods,

0:56.2

NPR reporters on the ground bring you stories of real people, helping you understand why

1:00.9

distant events matter here at home. Listen to sources and methods on the NPR app or wherever

1:06.6

you get your podcasts. The economy, as you know, is fragile right now.

1:12.8

Inflation seems everywhere.

1:14.7

And at this moment, a new book has come out about one of the top economic policy makers of

1:19.5

her generation, Janet Yellen.

1:21.8

She is the first female Treasury Secretary, and she was also the first female head of

1:26.2

the Federal Reserve.

1:27.9

But let's talk about Janet Yellen, the person.

1:30.8

She recently told Stephen Colbert on the late show that before she signed the new dollar

1:35.2

bill, she practiced.

1:37.4

I knew that this was something you could really screw up, and I wanted to get it right.

...

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