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The US Senate confirmed Janet Yellen as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank's efforts to spur the economy with low interest rates and massive bond purchases. Ms Yellen, 67, will replace Ben Adidas Zx Flux All White
Bernanke, who is stepping down after serving as chairman for eight years dominated by the Great Recession and the Fed's efforts to combat it. Senators voted yesterday to confirm her by 56 26, with numerous absences caused by airline flight delays forced by arctic temperatures around much of the country. All Zx Flux Adidas Rose Gold
45 voting Democrats were joined by 11 Republicans in supporting Ms Yellen, while 26 Republicans voted against her.
to what economists consider a sign of a "balanced" market. One factor that could influence the direction of the market is interest rates. The average rate on a 30 year mortgage fell to 4. 13 per cent last week, below year ago levels, according to figures from Freddie Mac. But rates are expected to rise in coming months as the Federal Reserve winds down its bond buying program, which has helped push down rates to historic lows.
near zero and flushed money into the economy with huge bond purchases, which it has just started to ease.
Vice chairwoman of the Fed since 2010, Ms Yellen begins her four year term as leader of the century old bank on February 1. With the economy rebounding from the depths of the recession but only modestly so far, many economists expect her to focus on how to nurture growth without putting it into overdrive, which could risk fuelling inflation. "The big Adidas Flux Adv debate will be when the Fed should tighten and how much, rather than when to step on the gas pedal and how hard," predicted Bill Cheney, chief economist for John Hancock Financial Services, who envisions a growing economy this year. Under Mr Bernanke, the Fed has driven short term interest rates down to Adidas Zx Flux Grey Prism
Ms Yellen, a strong Bernanke ally, has supported those policies and is expected to continue them until concrete signs emerge of sustained im.
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