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Senate set to confirm Janet Yellen as first female Federal Reserve chief


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Senate set to confirm Janet Yellen as first female Federal Reserve chief

The US Senate is set to vote and confirm later today Janet Yellen as the next chair of the Federal Reserve.

If accepted, Yellen would succeed Ben Bernanke and become the first woman to ever hold the post.

The changeover at the US central bank comes at a tricky time.

Yellen has been an unwavering advocate of the Fed’s aggressive steps to boost the US economy.

But Bernanke’s successor will now be charged with weaning it off so much stimulus, first by winding down the latest bond-buying programme.

The senate vote is expected this evening at 11:30 CET.