Dartmouth's Levin Calls Yellen an Exceptional Leader

The video discusses the qualities of effective leadership, highlighting Janet Yellen's successful tenure as Federal Reserve Chair due to her common sense and ability to build consensus. It then delves into the institutional constraints of the Federal Reserve and the challenges of altering its policy direction. The structure of the Federal Reserve is explained, emphasizing the role of board members and the potential for change with upcoming appointments, while maintaining continuity is deemed crucial.

What is one of Janet Yellen's key strengths as a leader at the Federal Reserve?

• Her ability to build consensus

• Her focus on individual decision-making

• Her preference for rapid policy changes

• Her lack of experience in economic matters

What challenge is associated with changing the policy direction of the Federal Reserve?

• The absence of a clear leadership structure

• The frequent changes in board membership

• The institutional constraints and policy inertia

• The lack of experienced board members

How many board members are there in the Federal Reserve's Board of Governors?

• Five

• Eleven

• Seven

• Nine

What is the role of the President of the New York Fed in monetary policy decisions?

• They vote only in special circumstances

• They vote at every meeting

• They do not have voting rights

• They vote only when there is a tie

Why is it important to maintain continuity in the Federal Reserve's Board of Governors?

• To reduce the number of board members

• To ensure rapid policy changes

• To maintain stability and consistency

• To allow for frequent leadership changes