News Column

Janet Yellen Takes Over at the Federal Reserve

February 3, 2014

Martin Crutsinger, AP Economics Writer

janet yellen
Janet Yellen has been sworn in to succeed Ben Bernanke at the Federal Reserve (file photo)

WASHINGTON (AP) Janet Yellen has been sworn in to succeed Ben Bernanke, becoming the first woman to lead the Federal Reserve in its 100-year history.

Yellen, who was confirmed by the U.S. Senate last month, was sworn in by Fed Governor Daniel Tarullo, the senior member of the Fed's seven-member board.

She took the oath in a brief ceremony Monday in front of a fireplace in the Fed's massive board room. Her husband, Nobel-winning economist George Akerloff, was present as were other Fed board members and Fed staff.

The 67-year-old Yellen made no remarks at her swearing in but did smile to acknowledge the applause of the assembled group.

Nominated by President Barack Obama on Oct. 9, her four-year term as chairman will end on Feb. 3, 2018.

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 This material may not be published, broadcast, rewritten or redistributed.

Original headline: Yellen sworn in as US Fed chair in brief ceremony


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 This material may not be published, broadcast, rewritten or redistributed.