Janet Yellen: Barack Obama names Janet Yellen to head US Federal Reserve

Janet Yellen. Barack Obama names Janet Yellen to head US Federal Reserve.

President of United States of America (USA) Barack Obama on October 9, 2013 nominated Janet Yellen to head the Federal Reserve BoardJanet Yellen, describing her as one of America’s “foremost economists and policy makers”.

If confirmed by the Senate, 67-year-old Yellen will become the first woman ever to lead the country’s powerful central bank.

She will replace Ben Bernanke as chair of the Federal Reserve Board. Bernanke will serve until his terms ends January 31.

For the first time in the institution’s 100-year history that a woman has occupied the position. Coming on the heels of India’s own landmark appointment of Arundhati Bhattacharya to head the State Bank of India (a first in its 207-history), the developments represent another milestone in an area long dominated by men.

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