Janet Yellen will be sworn in as Fed chair Monday
Janet聽Yellen, the first woman to chair the Federal Reserve in its 100-year history, will take over the reins of聽the U.S. central bank聽on Saturday and formally be sworn in next week, the聽Fed聽said on Thursday.
Yellen, 67, who begins her post as the聽Fed聽unwinds its unprecedented efforts to boost the U.S. economy, will be sworn in at 9 a.m. EST (1400 GMT) on Feb. 3. She will have full authority as the top central banker from Saturday until the swearing-in ceremony, according to the聽Fed.
She succeeds Chairman聽Ben Bernanke, whose second four-year term expires on Friday.聽Yellen聽will be sworn in by聽Fed聽Governor聽Daniel Tarullo, a聽Fed聽official said on condition of anonymity.
Yellen聽will be one of a handful of women heading central banks globally. Her main task will be to navigate the U.S. central bank's way out of its extraordinary stimulus, beginning with a further dialing down of its massive bond-buying program, and deciding when to raise rates.
The聽Fed聽has already announced a $20 billion reduction in its monthly asset purchases and is expected to completely shut down the program by year-end.
Yellen聽will remain in her current role as聽Fed聽vice chair over the weekend but will have authority to exercise all duties of the chair, the聽Fed聽said.
笔谤别蝉颈诲别苍迟听Barack Obama聽has nominated聽Stanley Fischer, former head of the聽Bank of Israel, to succeed聽Yellen聽in the number two position. The聽Senate聽must still confirm Fischer for the job, so it will be temporarily unfilled.
