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Senate OKs Janet Yellen as Federal Reserve Chair

Janet Yellen Federal Reserve chairmanJanet Yellen has been confirmed by the Senate as the next Federal Reserve chairman and will become the first woman to ever hold the post, the Washington Post reported Tuesday.

Ylan Mui writes the chamber voted 56-26 in favor of her nomination.

Yellen will take over from Ben Bernanke at the end of the month as the Fed seeks to gradually withdraw economic support tools such as bond purchases, the Post reports.

Prior to her appointment, Yellen served as Fed vice chairman for three years and advocated for the establishment of a 2-percent inflation target.

She is a graduate of the University of California and Yale University.

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