Janet Yellen is an economist nominated by President Barack Obama in October of 2013 to be head of the Federal Reserve Board of Governors (the Fed) and sworn into office 3 February 2014. Yellen is a 1967 graduate of Brown University, and she earned her doctorate in 1971 from Yale University. She has taught at Harvard and the London School of Economics, and she's been a professor at the University of California in Berkeley since 1980. In the 1990s, she served on the Fed (1994-97) and advised President Bill Clinton (1997-99). Yellen served as the president and CEO of the Federal Reserve Bank of San Francisco from 2004 until 2010, when she became Vice Chair of the Fed, second to Chair Ben Bernanke. Yellen is the first woman to chair the Federal Reserve Board, arguably one of the most important positions in the United States.