Janet Yellen confirmed as new Federal Reserve Chair

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Janet Yellen has been confirmed as the new Federal Reserve Chair, the first woman in the institution’s 100 years.

“Yellen's Senate opponents, including Charles Grassley of Iowa, cited her support for Bernanke's policies, which they say may create asset-price bubbles or lead to an inflationary surge even with prices rising below the Fed's 2 percent target.”

11 Republicans votes with the Democractic Majority to confirm her, with the final vote being 56-26.

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