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Janet Yellen confirmed as first female chairman of U.S. Federal Reserve

Updated: 2014-01-07 19:52:14 (KST)
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With a vote of 56 to 26 the Senate has approved Democratic nominee Janet Yellen as the next chairman of the Federal Reserve.
The Senate's nod Monday makes Yellen the first female head of the U.S. central bank and one of the most powerful women in U.S. history, as she is set to lead a major economy.
Yellen will officially take the reins on February first replacing current Fed chairman Ben Bernanke whose second four-year term expires at the end of this month.
Sixty-seven-year-old Yellen currently serves as the Fed's vice chair.
As a supporter of the "easy-money" policies the Fed has been pursuing under Bernanke she's expected to continue the fight to bring unemployment down-- even if that means strategies that drive inflation higher.
When voting time came, the Republicans who voted against her were those against the Fed's aggressive 85-billion dollar a month bond-buying program even though the Fed decided to taper the monthly purchases down to 75-billion starting January.
At her first public appearance as nominee to succeed Bernanke last November, Yellen said she would follow in her predecessor's footsteps on quantitative easing.
Previously, Yellen served as president of the San Francisco Federal Reserve Bank and also governor of the Fed Board and chair of President Bill Clinton's Council of Economic Advisors.
Connie Lee, Arirang News.


Reporter : connie@arirang.co.kr

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