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Yellen confirmed as Fed chairman

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(Tire Business file photo)
Janet Yellen

WASHINGTON (Jan. 7, 2014) — By a 56-26 vote, the U.S. Senate has confirmed Janet Yellen as the 15th chairman of the Federal Reserve.

Ms. Yellen, vice chairman of the Fed since 2010, is the first woman to head the nation’s central bank. She begins her four-year term Feb. 1, the day after Ben S. Bernanke—who has served as Fed chairman since February 2006—steps down.

During her tenure as Fed vice chairman, Ms. Yellen supported Mr. Bernanke’s policies, which included setting near-zero interest rates and massive purchases of government bonds to stimulate the economy after the Great Recession of 2008.

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TB Reader Poll

Previous | Published January 17, 2017

What is the most pressing issue facing your dealership in 2017?

Finding skilled, qualified workers
71% (103 votes)
Competition from online tire sales
16% (23 votes)
Managing marketing and social media efforts
7% (10 votes)
Upgrading our shop’s technology and equipment
5% (7 votes)
Other
2% (3 votes)
Total votes: 146
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