Man Bites Dog?
By Elizabeth Anne Hull
As you probably know, the “glass ceiling” has suffered yet another crack, as Janet Yellen has started work as the first woman to head the Federal Reserve Bank. That means that the two most significant leadership positions in global money are both occupied (word chosen carefully) by women. (The other is the International Monetary Fund, helmed by Christine Lagarde.)
As the grandmother of a female commercial pilot (the first of either gender that I know of in our family), I follow “firsts” for women with special interest. So I noticed another news item that may not have hit everyone’s radar: Yellen’s husband, George Akerlof, himself a Nobel prize winner in economics, stepped down as a member of the advisory board of the UBS International Center of Economics in Society at the University of Zurich.
Even though he wasn’t paid for being on the advisory board and there was no conflict of interest, he wanted to “avoid even the appearance of conflict,” Akerlof said. UBS, Switzerland’s largest bank, operates an investment-banking business in the U.S. and is therefore regulated by the Fed.