Yellen Sworn In as New U.S. Fed Chief

  • VOA News

    February 04, 2014 08:05

    The new head of the U. S. Federal Reserve, Janet Yellen, was sworn in Monday in Washington, D.C.

    Yellen had been the Vice Chair of the Fed and is first woman to lead the central bank in its 100 year history.

    The Fed is responsible for keeping prices stable and unemployment under control.

    Janet Yellen is sworn in as Federal Reserve Board Chair in Washington on Feb. 3, 2014. /AP

    Some economists say Yellen's approach is likely to be similar to that of former chairman Ben Bernanke, who pushed interest rates to historic lows as one part of the effort to pull the economy out of a slump.

    Other experts say Yellen may put more emphasis on fighting unemployment.

    Bernanke has joined the Brookings Institution, a group of scholars in Washington who study public economic, political, and strategic issues. Bernanke was a Princeton University economics professor before joining the Fed.

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