The Feminist Majority today applauds Janet Yellen on her confirmation as the first woman in history to lead the Federal Reserve.
The Senate approved her confirmation Monday night 56-26. Her nomination approval by the Senate Banking Committee in November came just days after the full body voted to change its filibuster rules to require a simple majority – a major win for progressive lawmakers and activists who were outraged by Senate Republican’s blatant attempts to block confirmation of President Barack Obama’s appointees, many of whom are women and minorities.
“Janet Yellen is not only the first Chairwoman of the Federal Reserve in history, she is the most qualified and prepared person to have ascended to the top of the Federal Reserve,” said Feminist Majority President Eleanor Smeal. “Yellen is now the highest-ranking person in the world for monetary policy. She has smashed the glass ceiling of the ‘temple’ of banking.”
Yellen will start on Feb. 1, taking the helm from two-term Chairman Ben Bernanke. She has served as the Federal Reserve’s vice chair since 2010 and before that served as chair of the San Francisco Federal Reserve.###