The Group of Thirty announced Wednesday that Janet Yellen and Stanley Fischer, respectively former chair and vice chair of the U.S. Federal Reserve System, have accepted invitations to rejoin the membership of the G30 as senior members.
Both individuals had previously been members of the G30, Yellen during her term as President of the Federal Reserve Bank of San Francisco and Fischer during his tenure at the International Monetary Fund and subsequently as Governor of the Bank of Israel.
Jacob A. Frenkel, Chairman of the Board of Trustees, stated: "We are delighted to welcome Janet Yellen and Stan Fischer back to the G30. We salute their exemplary public service, and the key leadership roles they both played in the Federal Reserve, working to achieve its mandate.” . Frenkel continued: “The effectiveness of the G30 depends fundamentally upon the quality and stature of the Group’s members and the Trustees and I look forward to their contributions to our deliberations."
Tharman Shanmugaratnam, Chairman of the G30, said: “Janet Yellen and Stan Fischer are outstanding leaders, each bringing a wealth of understanding on the financial and economic challenges of the times.”
Tharman continued: “The work of the G30 in financial and economic thought leadership relies on its unique membership, drawn from across the globe and both the public and private sectors. We look forward to Janet's and Stan’s contributions in the years ahead.”
The Group of Thirty was founded in 1978. It is an elitist, private, nonprofit, international body composed of insiders with experience in the private and public sectors and academia that answer to the real masters of the universe.
Other members include Paul Volcker, Ben Bernanke, Mario Draghi, Timothy Geithner and Paul Krugman.
-RW
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