Owen Ullmann

Current US Treasury Secretary Janet Yellen is the first female to hold the post that Alexander Hamilton first held over two centuries ago. She is also the first person to serve as Treasury Secretary, head of the Federal Reserve, and chief of the President’s Council of Economic Advisors. In short, she has had a career that anyone of any gender identity would be proud of. Her work has been critical to American economic prosperity since the 1990s, and she is known to value her impact on “Main Street” as much as “Wall Street.” In this book, Owen Ullmann shares a bit of her magic so that future generations can benefit from her habits.

Yellen’s main secret to success lies in meticulous preparation for every significant assignment – a trait garnered from her driven mother. Multiply that over several decades of working with top people, and expertise and wisdom accumulate. Further, she has always been motivated by her work’s impact on “average Americans,” not just the elite – hence the adage of “empathy economics.” Ullmann attributes this to Yellen watching her physician-father help financially needy patients in her youth.

Yellen has faced some adversity. She was initially denied tenure as an economist. She had to break glass ceilings to become, many times, the first female in a given role. Still, she rarely viewed herself as a first of anything, preferring the self-image of a hard-working, careful macroeconomist. She had to edge past gender roles to work with hard-driving male co-workers, including many who were not as liberal as her. Despite political differences, she won the appreciation of Wall Street and even of some in Republican roles. Who wouldn’t want to learn from her magic?

As a drawback, this book tends a bit towards hagiography rather than balanced critique. Although I’m more sympathetic towards Yellen’s liberal perspectives, Ullmann does not give much weight to conservative objectors to her policies, unfortunately. This is likely due to the author’s proximity towards present-day events. Though understandable, this shortcoming limits this book’s reach, unfortunately.

For those of a left-leaning persuasion, it does hit target audiences of career-driven women, economists, and those interested in a fairer yet prosperous marketplace, work-life balance, social justice, American politics, or current affairs. Thus, many types of readers are addressed. Of course, this book is timely as Yellen still serves as Treasury Secretary. I doubt that decades ago, she would have forecast such great success for herself, especially after setbacks in her early career. Nonetheless, she can serve as a helpful and successful north star to future generations.… (mehr)