Jon Hilsenrath

The seventh episode of Read The Bull is a topical and wide-ranging conversation with WSJ senior writer Jon Hilsenrath about his book Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval.  Hilsenrath is the perfect person to write a book about Yellen. He's written about economics and finance since 1997, and he's covered Yellen, her predecessors at the U.S. Federal Reserve and many of the economists that appear in the book. Yellen is the first woman to chair the US Federal Reserve and the first female Treasury Secretary. Jon points out that she also has the distinct honor of being the only person that's led the Federal Reserve, been Treasury Secretary and been Chair of the Council of Economic Advisers.  Jon tells host Stefan Prelog why Yellen was a great subject for a book, noting that she's been at the center of every major financial and economic crisis over the past 25 years.  Jon details how Yellen's upbringing and parents impacted her view on the economy and employment. Jon discusses his focus on Yellen's marriage to George Akerloff, himself an economist who has a Nobel Prize to his credit.  Jon uses their relationship to tell a much bigger story about modern economics and how it has evolved.  Jon  also uses the marriage between markets and democratic government to show how the application of economics is a messy process and one that is managed and held together by institutions. Jon tells Stefan the biggest threat to the United States and our way of life  is the growing distrust of institutions that hold this precious marriage between democratic governance and market capitalism. He notes the alternatives to what we have are dangerous - see countries like Iran and Russia - and even if our process is messy, we have to protect what we got. If you enjoy economics and the debate between free markets and government intervention, you'll love this conversation. And even if you're not a fan, you'll find it fascinating to hear Jon explain how economics touches every aspect of our lives.  Stefan ends the discussion by asking Jon a critical question about he approaches airport travel. It's a theme that helps explain the real-world application of economics. Check out the discussion and go to ReadTheBull.com for more information.Go to ReadTheBull.com for more information.