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Senate confirm Yellen to lead Federal Reserve

By The Associated Press

This article was published January 6, 2014 at 5:21 p.m.

in-this-nov-14-file-photo-janet-yellen-of-california-smiles-as-she-is-introduced-as-being-the-first-female-to-be-nominated-as-federal-reserve-board-chair-prior-to-testifying-on-capitol-hill-in-washington-yellen-was-approved-by-the-senate-on-monday-jan-6-2014-as-the-first-woman-to-head-the-federal-reserve-in-its-100-year-history

In this Nov. 14 file photo, Janet Yellen, of California, smiles as she is introduced as being the first female to be nominated as Federal Reserve Board chair, prior to testifying on Capitol Hill in Washington. Yellen was approved by the Senate on Monday, Jan. 6, 2014, as the first woman to head the Federal Reserve in its 100-year history.

WASHINGTON — The Senate has easily approved Janet Yellen's nomination to head the Federal Reserve.

Monday's 56-26 vote makes Yellen the first woman to lead the central bank in its century-long history. It puts an economist in the post who has long focused on fighting unemployment and who backed the Fed's recent efforts to spur the economy with low interest rates and huge bond purchases.

Yellen begins her four-year term as chair on Feb. 1. She replaces Ben Bernanke, who has held the job for eight years dominated by the Great Recession and his efforts to fight it.

Yellen has been Fed vice chair since 2010.

Nominated in October by President Barack Obama, Yellen will be the first Fed chair picked by a Democrat since President Jimmy Carter chose Paul Volcker.

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DontDrinkDatKoolAid says... January 6, 2014 at 5:38 p.m.

Not only the first woman, but Communist to hold that position.

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