Janet Yellen, currently vice chair of the Federal Reserve, would not only be the first woman to head the Fed but the first woman running a major central bank anywhere in the world. Janet Yellen has been a key architect of the Fed's efforts to keep interest rates near record lows.
President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the US central bank, the White House said Tuesday. Yellen would be the first woman to head the powerful Fed, taking over at a pivotal time for the economy and the banking industry.
Both Yellen and Bernanke are scheduled to appear with Obama at the White House on Wednesday for a formal announcement.
Bernanke will serve until his term ends Jan. 31, completing a remarkable eight-year tenure in which he helped pull the US economy out of the worst financial crisis and recession since the 1930's.
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