The latest nominee to head the U.S. Federal Reserve is expected to know how to handle money and economics.
So it is no surprise that current Fed vice chair Janet Yellen has a hefty checking account and her hands in multiple forms of income.
According to Yahoo Finance on Wednesday, Yellen’s stocks, bonds and equity investments were worth from almost $5 million to $13.2 million in 2012. Stocks include big companies including Conoco Phillips, Pfizer and Raytheon Corp according to a release of her finances.
Other contributors to Yellen’s wealth include her salary at the Fed at $179,900 and pensions from the Federal Reserve and from the University of California at Berkeley where she is professor emeritus in economics.
The 67-year-old economist’s husband, Nobel Prize winning economist George Akerlof is also a key player in the financial success.He also has a pension from U.C. Berkeley. The couple also has a stamp collection that is worth upwards of $15,000.
This is considerably more than the exiting Fed chairman Ben Bernanke who reported only up to $2.3 million in 2012.
If confirmed by the Senate, Yellen would be leading the country at a time when Congress is threatened with defaulting on trillions in loans and a possible depression if it does not raise the debt ceiling by Oct 17.
With a financial crisis looming, members of Congress seem to be in favor of her advancement into the position.
“She has a depth of experience that is second to none, and I have no doubt she will be an excellent Federal Reserve chairman," Senator Tim Johnson said in a statement according to the Guardian.
Her nomination knocks out former frontrunner and Treasury secretary Larry Sumners, who reported between $7 million and $31 million in 2009 according to the New York Times.