World News

Wednesday 23 July 2014

Yellen sworn in as US Fed chair

Published 03/02/2014|16:32

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Janet Yellen smiles before being sworn in as Federal Reserve chairwoman (AP Photo/Charles Dharapak)

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

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Yellen, who was confirmed by the US 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 in front of a fireplace in the Fed's board room. Her husband, Nobel-winning economist George Akerloff, was present as were other board members and staff.

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

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

AP

Press Association

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