Yellen drew on psychologist Angela Duckworth's research on 'grit' — the abiding commitment to work hard toward long-range goals and persevere through setbacks — to argue that raw ability is an overrated predictor of success. She then highlighted one particular aspect of grit: the willingness to take a stand when circumstances demand it. She illustrated this with her predecessor Ben Bernanke's response to the 2008 financial crisis. Bernanke took unprecedented actions to stabilize the financial system, facing relentless criticism, personal threats, and the terrifying possibility that history would judge him harshly if he was wrong. His intelligence mattered, but his courage to act on conviction mattered just as much.