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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Previous | Published July 16, 2015

How will the Obama administration’s proposed expansion of overtime pay affect your business?

Not much if at all.
31%
(31 votes)
It will force me to demote my assistant managers and recalculate pay and benefits scales.
34%
(34 votes)
It will put me out of business.
11%
(11 votes)
It’s way too soon to tell.
24%
(24 votes)
Total votes: 100