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Banking

Senate Confirms Yellen as Next Fed Chair

new Fed Chair YellenThe U.S. Senate on Monday confirmed Janet Yellen as chair of the Federal Reserve Board of Governors. Currently the vice chair, Yellen is scheduled to assume the duties of chair on February 1. She will succeed Ben Bernanke, chairman since February 2006.

Yellen will be the first woman to chair the Board of Governors.

She took office as vice chair on October 4, 2010, for a four-year term. Before her appointment as vice chair, Yellen served as president and chief executive officer of the Federal Reserve Bank of San Francisco.

She is professor emeritus at the University of California at Berkeley, where she has been a faculty member since 1980.

January 9, 2014

 

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