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Janet Yellen Ethics Agreement

On January 19, 2021, Janet Yellen was confirmed as the 78th United States Secretary of the Treasury. Prior to her confirmation, Yellen signed an ethics agreement outlining the steps she would take to avoid conflicts of interest in her role as Treasury Secretary.

The agreement is a standard requirement for high-level government officials and is intended to ensure that those in positions of power are free from any financial or personal biases that could influence their decision-making.

Yellen`s ethics agreement includes several provisions to prevent conflicts of interest. For example, she agreed to divest from various stocks, bonds, and mutual funds within 180 days of her confirmation. This will remove any potential financial conflicts related to her previous positions in the private sector, including her time as a consultant to financial institutions such as Citigroup and JPMorgan Chase.

In addition, Yellen will not participate in any decisions involving her former employers or clients for two years after her appointment, and she will recuse herself from any matter that would have a direct and predictable effect on her financial interests or those of her immediate family members.

Yellen`s ethics agreement also includes provisions related to her husband, George Akerlof, who is an economics professor at Georgetown University. Akerlof will not participate in any matters involving the Treasury Department, and Yellen will not participate in any matters involving Georgetown University or its students, faculty, or staff.

Overall, Yellen`s ethics agreement is a necessary step to ensure that she can carry out her duties as Treasury Secretary without any conflicts of interest. By divesting from various financial holdings and recusing herself from any potential conflicts, Yellen can prioritize the needs of the American people and the economy without any undue biases.

It`s worth noting that ethics agreements are only one part of the puzzle when it comes to ensuring that government officials act ethically and appropriately in their roles. Strong oversight, transparency, and accountability are also essential components of a functional democracy. Nevertheless, Yellen`s ethics agreement is a positive step in the right direction, and it sets a good example for other government officials to follow.

In conclusion, Janet Yellen`s ethics agreement is an important tool for ensuring that she can serve as Treasury Secretary without any potential conflicts of interest. By divesting from various financial holdings and recusing herself from any potential conflicts, Yellen can prioritize the needs of the American people and the economy without any undue biases. As taxpayers, we should demand this level of transparency and accountability from all government officials to ensure a fair and functioning democracy.