Yellen Confirmed to Head Federal Reserve
In its first confirmation vote of the New Year, the U.S. Senate approved Janet Yellen to head the Federal Reserve.
The vote was 56-26 on Jan. 6, the first day the senators met after their two-week holiday recess.
Until her appointment by President Obama, Yellen had been vice chairwoman, or second in command, at the central bank. She succeeds Ben Bernanke as chairman.
Yellen, an economist, worked at the central bank in the 1970s. During the ‘90s, she served on the Fed’s Board of Governors and later in the Clinton administration as head of the Council of Economic Advisers.
Yellen is the first women to head the Fed.
