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Yellen Confirmed As Fed Chairwoman

Janet Yellen is the first female chair of the Fed in its 100-year history.
Yellen Confirmed As Fed Chairwoman
Image from: Daily Kos

On Monday, the Senate confirmed Janet Yellen as chair of the Federal Reserve.

The Senate confirmed Yellen by a 56-26 vote. Eighteen senators either were not present or did not vote. Eleven Republican senators joined all present Democrats in voting to confirm Yellen.

Yellen's confirmation clears the way for her to become the most powerful woman in American history, as the Fed has tremendous independence and influence on the U.S. and world economies. She is the first female chair of the Fed in its 100-year history, and she succeeds the outgoing Ben Bernanke.

Yellen, who has been serving as the Fed's vicechair since 2010, will begin her term on February 1st, and chair her first meeting in mid-March.

And this from Joan McCarter at Daily Kos:

"Immediately following that vote, the Senate was going to move on to a cloture vote on a three-month extension of unemployment benefits for the long-term unemployed. They were proceeding to the vote with just a few minutes of debate when Sen. John Cornyn (R-TX) stood up to whine about the fact that 17 senators weren't able to be there to vote because of the weather, and that it was all politics on Reid's part to make Republicans look bad. He demanded the vote be rescheduled, so Reid promptly asked for unanimous consent that the vote be postponed until 10:00 AM Tuesday."

So, Harry Reid is to blame for this Polar Vortex? That's one powerful dude.

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