News Column

Janet Yellen to Be Sworn in Monday

January 30, 2014

Associated Press

janet yellen
Janet Yellen will be sworn in on Monday to head the Federal Reserve (file photo)

Federal Reserve Vice Chair Janet Yellen will be sworn in Monday to succeed Ben Bernanke, becoming the first woman to lead the Fed in its 100-year history.

The Fed said in a brief announcement Thursday that the swearing-in will take place at 9 a.m. Eastern time. The ceremony will be private, with Yellen sworn in by Fed Governor Daniel Tarullo, the senior member of the Fed's board.

Bernanke's term as chairman will end at midnight Friday. The Fed statement said Yellen will have authority as the current vice chair to exercise all the duties of chair beginning this weekend.

Yellen, 67, has been a close Bernanke ally. She is expected to continue the Fed's policy of maintaining low interest rates while scaling back its stimulus programs as the economy improves.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Original headline: Yellen will be sworn in as Fed chair on Monday


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Source: Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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