SOURCE: Town Hall Los Angeles

TOWN HALL Los Angeles

March 16, 2010 14:42 ET

Federal Reserve Bank President Janet Yellen Returns to TOWN HALL LA

LOS ANGELES, CA--(Marketwire - March 16, 2010) -  Janet L. Yellen, PhD, President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, will address TOWN HALL Los Angeles on Tuesday, March 23, 2010 at the Millennium Biltmore Hotel. Dr. Yellen will present an economic outlook and observations on central bank independence.

On US unemployment rates Yellen said, "In both cases (1991 and 2001 recessions), output growth was less robust than in the typical recovery and, unfortunately, things seem to be shaping up similarly this time around...With such a slow rebound, unemployment could well stay high for several years to come. In other words, our recovery is likely to feel like something, well, short of good times." Recently, Yellen stated that record-low interest rates are needed to foster the economic recovery and relieve high unemployment: "This is not the time to be tightening credit."

Yellen took office on June 14, 2004, as president and chief executive officer of the Federal Reserve Bank of San Francisco, the largest of the twelve Federal Reserve Districts. In that role, she is a member of the Federal Open Market Committee and fully participates in the meetings and brings her District's perspective to policy discussions in Washington. 

Currently, three seats on the Federal Reserve board of governors need to be filled by the Obama administration. Yellen, who was a Federal Reserve governor and chairwoman of the council of Economic Advisers, has been mentioned as a front-runner to succeed departing vice chairman Donald Kohn.

Yellen is a member of The Group of 30, the Council on Foreign Relations, the American Academy of Arts and Sciences, and a research associate of the National Bureau of Economic Research. 

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All accredited members of the media are invited to cover this event.
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When:   Tuesday, March 23, 2010
             12:00 PM Luncheon; 12:30 PM Program with Q&A

Where:  Millennium Biltmore Hotel
             506 South Grand Avenue
             Los Angeles, CA 90012

Tickets $48-60, Call 213.628.8141 or

Contact Information

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