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VOL. 38 | NO. 5 | Friday, January 31, 2014

Yellen sworn in as Fed chair in brief ceremony

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WASHINGTON (AP) — Janet Yellen has been sworn in to succeed Ben Bernanke, becoming the first woman to lead the Federal Reserve in its 100-year history.

Yellen, who was confirmed by the Senate last month, was sworn in by Fed Governor Daniel Tarullo, the senior member of the Fed's seven-member board.

She took the oath in a brief ceremony Monday in front of a fireplace in the Fed's massive board room. Her husband, Nobel-winning economist George Akerloff, was present as were other Fed board members and Fed staff.

The 67-year-old Yellen made no remarks at her swearing in but did smile to acknowledge the applause of the assembled group.

Nominated by President Barack Obama on Oct. 9, her four-year term as chairman will end on Feb. 3, 2018.

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