Treasury Secretary Janet Yellen talking with CNBC’s Sara Eisen (not proven) on the U.S Treasury Division on Jan. 8, 2024.
CNBC
Former Treasury Secretary Janet Yellen will probably be becoming a member of an advisory board for bond large Pimco, CNBC has discovered.
Becoming a member of different distinguished officers on this planet of economics and finance, Yellen, who additionally served as Federal Reserve chair, will serve on the board that meets a number of occasions a yr, in line with the report from CNBC’s Leslie Picker.
The advisory board members’ mission, in line with the Pimco web site, is to “contribute their insights to the agency on international financial, political and strategic developments and their relevance for monetary markets.”
Present members embody Gordon Brown, the previous U.Okay. prime minister; ex-White Home chief of employees Joshua Bolten; Michèle Flournoy, former protection coverage advisor underneath two U.S. presidents; and Raghuram Rajan, an economist and former governor for the Reserve Financial institution of India.
As well as, former Federal Reserve Chair Ben Bernanke additionally served as a senior advisor at Pimco, and Richard Clarida, who had served because the central financial institution’s vice chair, is a managing director within the agency’s New York workplace.
Yellen served as head of Treasury throughout all 4 years of the Biden administration, and earlier than that was Fed chair from 2014-18. She was the primary girl to carry the respective posts. Previous to taking the Treasury submit, she served a stint as a distinguished fellow on the Brookings Establishment assume tank.
Pimco, based mostly in Newport Seaside, California, manages about $2 trillion for shoppers and as soon as ran the biggest bond fund on this planet. Yellen has a previous with the agency, reporting as soon as that she collected a $180,000 talking payment on the agency in 2019.
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