Janet Yellen nomination for Federal Reserve chair
President Obama is expected to nominate Janet Yellen to replace Ben Bernanke as head of the Federal Reserve. If confirmed, Yellen would be the first woman to chair the Federal Reserve and it would make her the highest-ranking woman ever in an economic policy-making position in the United States.
Susan McTiernan, associate dean for graduate programs in the School of Business, is available to comment.
McTiernan says, "Janet Yellen's appointment as the first woman to chair the Federal Reserve is a significant event, particularly for women who aspire to senior corporate and policy roles. It is hard to fathom, in 2013, that there are still so many 'firsts' for women, but that speaks to an environment characterized by a glass ceiling that remains tough to break through."
"At a time when the ranks of women senior executives (most highly compensated corporate officers) and corporate board members still sits at well below 20% among publicly traded organizations within the U.S., Ms. Yellen's appointment could serve as a significant spotlight on the capabilities of women in business and elsewhere. In this highly visible role, Ms. Yellen holds a unique opportunity: not only in setting monetary policy but in serving as an example and an inspiration for women as well as for organizations that may be encouraged to better recognize the importance of them as leaders. Ms. Yellen's appointment (if confirmed), fortunately or unfortunately largely because of her gender, will no doubt attract additional attention to her role. This appointment is not unlike, for example, that of Indra Nooyi at Pepsi or Ginni Rometty at IBM. It is one more step towards what will no doubt still be a continuing long journey toward enabling the full involvement of women in organizational leadership roles, but each of these steps is critically important as another small crack in that glass ceiling."
To reach McTiernan, please call John Morgan, associate vice president for public relations, at 203-206-4449.
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