Janet Yellen, President Obama's nominee to lead the Federal Reserve, is a vastly wealthy multimillionaire—which is standard, because only those fully insulated from the effects of economic policies are allowed to make economic policies. Let's look at Janet Yellen's personal accounts, shall we?
Here is the financial disclosure form that Janet Yellen has filed, as required by law. Her total wealth is between $5.1 million and $14.4 million. That makes her predecessor Ben Bernanke (assets: $1.1 million- $2.3 million) look like an absolute pauper. Among Janet Yellen's holdings:
- A salary of about $400K from the Federal Reserve
- A pension of about $3K monthly from the University of California
- Several million dollars in stock funds and bond funds.
- Hundreds of thousands of dollars worth of specific stocks, including Pfizer, Raytheon, DirecTV, and OfficeMax.
- A stamp collection valued at $15K-$50K
- And for pocket money, she keeps $15K-$50K in a Merrill Lynch banking cash account, a Wells Fargo checking account valued at $100k-$250K, and a Wells Fargo savings account valued at $250K-$500K.
Janet Yellen, like just about every other top economic policymaker, is wealthy enough to be just fine no matter what happens to our economy. Always worth remembering.