The search for the new U.S. Fed’s chief was going on for the whole last year. Contenders for the Chair were involved in bitter stand-up and veiled fight; after all, the winner is supposed to get the desirable position. Lots of Fed officials were quite worthy. However, since late August 2013, Janet Yellen as the U.S. Federal Reserve Vice Chair started off taking the lead with a wide margin. Nowadays, it is too early to judge what imprint Janet will leave in the course of her ruling. But it is obvious that she will take her place in history as the first woman to lead the Federal Reserve System in its 100-year history. Ben Bernanke, Person of the year according to the Times magazine, served two terms as Chairman of the U.S. Fed since 2006. During his tenure, the Federal Reserve got through the aftermath of the global financial crisis, managed the rising unemployment rate, and facilitated investors’ and markets’ adjustment to the new conditions. Meanwhile, the new chapter for markets worldwide has just started where the heroine is Janet Yellen. The formalities are over; the nomination was approved by the Congress and the U.S. President. On February 3, Mrs. Yellen took the oath in the solemn ceremony and was inaugurated as the Federal Reserve Chairperson. She was sworn in by the Fed governor Daniel Tarullo. From now on, she is to assert her commitment to the economic stimulus and the job market growth. Yellen’s opinion on these key market issues coincides with the policy of her predecessor. So, the quantitative easing program will be gradually scaled down. For the reference, her first term in the office as the Federal Reserve’s head will expire on February 3, 2018.
