Janet Yellen gets new job as fellow at Brookings Institution think tank in Washington

Janet Yellen’s tenure as Federal Reserve Chair might end this weekend, but instead of taking a well-earned break, she is moving on to a new job.

She will begin work on Monday morning as a distinguished fellow at the Brookings Institution in Washington DC.

The Brookings Institution is a self described “non-partisan” American research group and think thank. She will work specifically in the Hutchins Center on Fiscal and Monetary Policy.

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Yellen is leaving the Fed after 17 years, four of which she spent as chair. Her replacement Jerome Powell will be sworn in on Monday.

Yellen’s new boss David Wessel, director of the Hutchins Center, wrote a blog today welcoming her to the new role.

“Although many hoped that she’d get a second term as Fed chair, we at Brookings are very pleased to have her join our team,” he said.

He added: “We’re looking forward to helping Dr. Yellen reflect on her impressive career, to working with her as she continues to advance the state of economic knowledge, and to benefitting from her advice as we work to improve the quality and effectiveness of fiscal and monetary policies and public understanding of them.”

Earlier this week the Fed held rates but highlighted increased inflationary pressures which it expects in the coming months.