Transcripts Show Yellen Took Charge During Crisis

“As the world’s financial system stood on the verge of collapse in October 2008, Janet L. Yellen was not even a full voting member of the Federal Reserve’s policy-making committee, but she was not shy about admonishing her colleagues for not acting faster,” the New York Times reports.

“What the transcripts show is a woman who was constantly pushing her peers — and also cleverly cajoling them — to do more to help ordinary households, not just financial institutions… In the end, during the most terrifying moments, Ms. Yellen helped persuade even the staunchest opponents of more aggressive actions to go along with the policies that the head of the Fed, Ben S. Bernanke, wanted.”