Washington, Jan 31:
The Federal Reserve's key monetary policy making panel, the Federal Open Market Committee, officially chose incoming Fed chief Janet Yellen as its chair.
One day after outgoing Fed Chairman Ben Bernanke oversaw his final FOMC meeting, the Fed said the panel had unanimously selected Yellen to replace him.
Bernanke ends his eight-year tenure on Friday, having presided over the world's most powerful central bank during the deepest economic crisis since the 1930s.
Yellen, who served as Bernanke's vice-chair for the past four years, is scheduled to be sworn in as the new chair of the Fed overall on February 3.
The Fed said that in the interim week-end period, Yellen will remain as vice-chair but "with the authority to exercise all the duties of the chair''.
(This article was published on January 31, 2014)
via Business - Google News http://ift.tt/1ecgMoK
Put the internet to work for you.
0 comments:
Post a Comment