Yellen makes her first paid appearance
There is a long tradition of former Fed leaders cashing in by offering advisory services in retirement. Yellen has mostly kept a low profile and selling out to Wall Street isn’t really her style.
But she was paid to be in New York on Monday at the penthouse of a CEO, according to Reuters.
The event was a dinner attended by wealthy clients and notables including Carl Icahn and Daniel Loeb. It was hosted by Jeffries.
“She stuck close to the message of three or four interest rate hikes this year that her successor, Jerome Powell, has delivered since taking charge in early February,” the report says.
She expressed some concern that tax cuts and stimulus could overheat the economy but that inflation was unlikely to spike.
David Zervos of Jeffries put a picture of himself with Yellen on Instagram.