Tuesday, 07 January 2014 - 7:29
Senate confirms Janet Yellen as chair of US Federal Reserve
The US Senate confirmed Federal Reserve vice chair Janet Yellen to be the new head of the world's most powerful central bank, the first woman ever to lead the Fed.
President Barack Obama's nominee earned bipartisan support in the bitterly divided chamber, but the 56-26 vote was still among the closest in the 100-year history of the institution.
Yellen replaces predecessor Ben Bernanke, who steps down on January 31st after eight years in the job.
At 67, Yellen has built a strong reputation as an academic economist, and as a veteran policymaker at the Fed she is not expected to veer far from the central bank's existing policies.