Janet Yellen arrives to a news conference following a Federal Open Market Committee (FOMC) meeting.
Bloomberg—Bloomberg via Getty Images
By Jamie Ducharme
February 3, 2018

Outgoing Federal Reserve Chair Janet Yellen, whose term ended Friday, is already moving on to a new job.

Starting Monday, Yellen will join the Brookings Institution as a fellow in economic studies, according to an announcement from the organization, which conducts research, analysis and recommendations around public policy. The former Federal Reserve chair will be affiliated with its Hutchins Center on Fiscal and Monetary Policy.

Ben Bernanke, who was Federal Reserve chair before Yellen assumed the post in 2014, is also a Brookings fellow, just as numerous Federal Reserve chairs were before him. Yellen’s appointment continues Brooking’s “long history of collaboration with economists and policymakers who served in the Federal Reserve Board of Governors,” according to the release.

During Yellen’s tenure as Federal Reserve chair, the unemployment rate dropped from 6.7% to 4.1%. During January alone, her last full month in office, the economy added 200,000 jobs, according to the Bureau of Labor Statistics. Prior to that role, Yellen served as vice chair of the Federal Reserve Board of Governors.

Jerome Powell will replace Yellen at the Federal Reserve.

Write to Jamie Ducharme at jamie.ducharme@time.com.

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