Janet Yellen sworn in as first female Federal Reserve leader

Updated Feb. 3, 2014 at 12:58 PM
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WASHINGTON, Feb. 3 (UPI) -- Janet Yellen was sworn in Monday as the first female head of the U.S. Federal Reserve, succeeding Ben Bernanke, whose term expired last week.

Yellen was sworn in by Daniel Tarullo, a central bank governor, the Fed said in release.

Yellen's term as chairwoman will end Feb. 3, 2018, and her term as a board member will end Jan. 31, 2024.

Yellen takes over as the Fed is reducing its asset buying program -- a sign of confidence in the economic recovery.

One of her biggest jobs will be to guide the exit so it doesn't upset the recovery and deal with a Congress that is skeptical of the Fed's actions, the Hill reported.

Yellen was nominated by President Obama in October, and confirmed by the Senate in January.

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