After confirmation by US Senate on Monday, Janet Yellen is now all set to become first woman to head Federal Reserve Bank in 100 years history of the bank.
As per reports, Yellen will succeed Ben Bernanke who will retire from the post of Chairman of Federal Reserve Bank on January 31 amid growing concerns to boost US economy. Janet is currently holding the position of Vice Chair of the bank and she is considered as key force behind bank’s unprecedented and controversial efforts to revive US economy.
Janet got resounding support from Democrats in US Senate as she won 56 votes while 26 Republicans voted against her. Yellen will now have to face daunting task to navigate bank out of its extraordinary stimulus that is likely to begin with dialing down its bond-buying program while holding the world`s most powerful financial post.