Janet Yellen’s nomination for the Fed chairmanship is a significant mark in the history of female central bankery – mainly because there isn’t much of a history.
As Claire Jones, the FT’s economics reporter, points out: advanced economy central banks are severely lacking in female representation in their upper echelons.
In other markets, however, women have more of a presence in monetary policy. Outside of advanced economies, the list of women at the head of central banks is longer than the list of women on the ECB governing council (0).
South Africa: Gill Marcus spent time in the UK as her parents were anti-apartheid activists in South Africa. She joined the ANC and worked for its department of information and publicity, then returned to South Africa after the ANC ban was lifted. She was appointed deputy minister of finance in 1996 and became deputy governor of the South African Reserve bank in 1999. After a few years working outside the central bank system, she was appointed governor in November 2009. In 2010 she said, “Developing countries are more conscious of women’s emancipation – we’ve all got better statistics in relation to gender than in the developed world.“ Read more