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Senate confirms Yellen at Fed

Posted: 1/7/2014 | Views: 914

The Senate on Monday voted 56-26 to confirm Janet Yellen as the first woman to lead the Federal Reserve.

Eleven Republicans joined Democrats present on Monday in voting to confirm Yellen, who will face more scrutiny than perhaps any central bank leader before her when she formally takes the reins this month from the retiring Ben Bernanke.

Yellen will be in control of an institution that has just begun unwinding years’ worth of unprecedented stimulus for the economy while seeing its regulatory workload explode under the Dodd-Frank financial reform law.

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Source: The Hill

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