Janet Yellen named distinguished fellow at Brookings Institution

Federal Reserve Chair Janet Yellen will end her term this weekend and begin work as a distinguished fellow at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, reports CNBC.

Why it matters: Yellen spent 17 years in the Federal Reserve System and four as chairman, before Jerome Powell was confirmed as her successor last month. She will join former Fed Chairman Ben Bernanke and several other Fed alumni in her new position at Brookings.