Senate approves of Janet Yellen heading the Fed
January 8 , 2014
The Senate approved Janet Yellen's nomination as the head of the Federal Reserve with a 56-26 vote on Monday.
The 67-year-old Yellen has become the first woman to lead the central bank in the last century. She begins her four-year-long term on Feb. 1 and will replaced Ben Bernanke who held the position for eight years.
Senators in both parties debated about the Fed's inadequate efforts to boost the US economy but Yellen's confirmation was still easy to pass. She is also the first Democrat to lead the Federal Reserve since 1979 and is expected to face several challenges in her journey.