After the vote in the US Senate, Janet Yellen has become the first woman to lead the Federal Reserve System in its 100-year history. The American senators approved the vice chair of the Fed to take the helm after Chairman Ben Bernanke's term expires on January 31, having voted 56-26 in her favor. Despite the fact that many members of the upper chamber were unable to attend the vote because of bad weather, still the nomination was confirmed by the majority of members. Last October, US President Barack Obama nominated Yellen to head the central bank, and after a prescribed procedure, the nominee won confirmation from the Senate Banking Committee. Ben Bernanke is due to hand over on January 31, and on February 1, a new chief will take power. Janet Yellen's career in the Federal Reserve started in the 70's. She began as an economist at the Fed's board, and in 2010 she became the governor's deputy. The main rival to occupy the chair of the governor was Lawrence Summers, the former Finance Minister of the US. He withdrew his name from consideration. In opinion of international watchers, the major responsibility that falls on the new head is the issue when the best time to tighten the monetary policy. Experts believe that with Janet Yellen as the Federal Reserve Chair, it means that the era of easy money in the US is over.
