The United States Senate has confirmed Janet L. Yellen as Governor of the Federal Reserve (the Fed) on Monday, January 6, 2014. Time Washington, United States. This announcement also marks that she became the first woman to lead the U.S. Central bank in a hundred -year history of the country.
As an official of the Fed, Yellen 67 -year -old has a great influence over the Fed’s extraordinary measures in an effort to revive the economy, even though interest rates are already near zero percent.
As governor, Yellen will face a tough task overseeing the implementation of several policies, including reaching the target unemployment rate below 7 percent and that inflation is maintained.
During the confirmation process, Senators from both sides criticized the Fed as it is considered not making an effort to help the economy and help the American middle class. Also assessed not to do too much help to intervene in the market and the risk of creating new turmoil.
” I’m afraid they’re too deep, ” said Charles E. Grassley, a Republican senator from Iowa, shortly before the vote confirmation is done.
Grassley on the occasion questioned how the Fed will pull back the campaign asset purchases without creating a new major investor panic, and without triggering inflation.
Although they objected because Yellen can reach support easily. The proof, Yellen has received the support of as many as 26 votes total of 56 votes.
Nearly a dozen of the Republicans, including Kelly Ayotte of New Hampshire, Saxby Chambliss of Georgia, Tom Coburn of Oklahoma and, supporting Yellen. Yellen will be the first Democratic candidate who would run the Fed since the days of President Jimmy Carter, who named Paul Volcker as Fed chairman in 1979.
Yellen obtains thin margin of the senate as a Fed governor in the history of their central bank than the sound that do not support. Ben S. Bernanke, Fed chairman, the last voice gained by 70 votes in favor versus 30 dissenting vote in the election in the second period of his leadership in 2010.
As a woman, Yellen will look different among bankers’ central bank world dominated by men. ” Nearly one hundred years of establishment, the Fed finally has its first female president, ” said Terry O Neill, president of the National Organization for Women. ” It was time, ” he said.