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    Yellen Confirmed as Fed Chairwoman

    WASHINGTON, DC - NOVEMBER 14:  Nominee for the Federal Reserve Board Chairman Janet Yellen waits for the beginning of her confirmation hearing November 14, 2013 on Capitol Hill in Washington, DC. Yellen will be the first woman to head the Federal Reserve if confirmed by the Senate and will succeed Ben Bernanke.  (Photo by Alex Wong/Getty Images)

    Alex Wong

    She's in. On Monday, the Senate confirmed Janet Yellen as chair of the Federal Reserve. She was nominated by President Obama in October after Ben Bernanke announced his January departure, and is the first woman to lead the Fed in its 100-year history. Yellen, who is currently second in command, will take the position on Feb. 1 and chair her first meeting in mid-March. The central bank's biggest challenge to come will be scaling back the economy's government dependency.

    Read it at Business Insider