First Woman To Head The Federal Reserve

Janet Yellen has been approved by the Senate to head the Federal Reserve.

The Senate voted 56-26 to confirm Yellen, who’s been the vice chair of the Fed since 2010. Yellen, 67, will take the helm after Chairman Ben Bernanke’s second four-year term ends Jan. 31…

. She’d long been viewed as one of the nation’s top economists, having run the Federal Reserve Bank of San Francisco, and she was a prominent academic at the University of California at Berkeley.

Over the summer, however, the Obama administration put out feelers to gauge the chances of confirmation for former Treasury Secretary Lawrence Summers. Summers enjoyed a close relationship with President Barack Obama, despite being chased out of the presidency of Harvard University in 2006 for suggesting there were innate reasons that few women pursued careers in math and science.

Women’s groups were outraged, viewing the weighing of Summers over Yellen as an insulting low point for the Obama administration. Months later, there was delight at Yellen’s confirmation.

By: Alan

Alan Colmes is the publisher of Liberaland.