Janet Yellen Is Confirmed As Next Fed Chair

Update: the final vote came out to 56 Yes and 26 No, after supposedly someone moved from the No to the Yes pile. It also seems that quite a few senators missed the final vote due to the weather, which means Bernanke’s record of 30 No votes stands untouched for now.

With the critical 50th Yes vote just being cast, Janet Yellen has officially become the first woman to head the central bank in its 100 years of existence. The vote continues, and the only question now is whether the current tally of 27 No votes will surpass the Bernanke record of 30 objections to the central bank head.

Below is the official statement by the Vice Chair of the Joint Economic Committee on the Yellen confirmation vote:

Statement from JEC Vice Chair Klobuchar on the Confirmation of Janet Yellen as the Next Chair of the Federal Reserve


WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Senate voted to confirm Janet Yellen to serve as the next Chair of the Board of Governors of the Federal Reserve System:


“Janet Yellen’s wealth of experience directing policy at the Federal Reserve and her longstanding reputation as one of the country’s most highly esteemed economists make her well-qualified to serve as Federal Reserve Chair, and as the first woman to hold the post she will also be an inspiration to young women everywhere. I look forward to working with her as we focus on strengthening our economy.”


Yellen will succeed current Federal Reserve Chair Ben Bernanke when his term ends on January 31st, and will be the first woman to fill the top role at the Federal Reserve in its 100 year history. 


via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/pUVWWG3b2sQ/story01.htm Tyler Durden

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