Janet Yellen Confirmed As Chair Of Federal Reserve: Senate Votes First Female Chair

The United States senate has voted Janet Yellen to serve as the next chair of the Federal Reserve after current chair Ben Bernanke finishes his second term at the the end of the month. Senators voted 56 to 26 in her favor, despite the fact that several senators missed the vote because of the weather. Eleven Republicans crossed the floor to support Yellen. She will be the first woman to head the Federal Reserve in its on hundred year history.

Yellen brings nearly two decades years experience in various Fed positions. In her time as Vice Chair, Yellen spoke out against high unemployment and supported the Reserve's bond buying program. The election of Yellen as the first female chair is a highly significant moment in America's journey towards gender equality. As Mother Jones reveals, no major economic leadership position has been held by a woman and, according to Sheila Bair, "This has been a historical trend which Obama has good opportunity to break."

Yellen has worked at the Federal Reserver for nearly twenty years. She was chair of the Council of Economic Advisers under President Clinton and previously worked at the University of California-Berkeley. The Wall Street Journal out of 14 Fed policymakers the "most accurate forecasts overall came from Ms. Yellen."