BWC Advisory Council Member Janet L. Yellen participated in a panel titled “The Future of the Fed” at the annual meetings of the American Economic Association on January 4, 2026, alongside Loretta Mester, Athanasios Orphanides, David Romer, and Anil Kashyap. Drawing on her extensive experience in public service and economic policy, Yellen addressed central bank independence, the risks of fiscal dominance, and the importance of maintaining monetary policy decision-making free from political pressures. Her remarks underscored the critical role of the Federal Reserve’s institutional framework in achieving sustainable employment and price stability while resisting pressures that could subordinate monetary policy to fiscal financing.

To watch the full panel at the American Economic Association, click here.

To read a summary of Yellen’s remarks published by Brookings, click here.

All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.