Janet Yellen made history today as the first female to head the Federal Reserve, but economists question whether her policies will differ from past leaders'.
Janet Yellen made history today as the first female to head the Federal Reserve, but economists question whether her policies will differ from past leaders.
The Senate voted Yellen as the new Fed head on Monday, January 6, on their first day back in session. Yellen is the first Democratic nominee in 35 years.
However, a Wall Street Journal survey of economists revealed that 60 percent responded that Yellen's policies did not differ from the previous Fed chief's.
The Federal Reserve was created as the country's central bank 100 years ago and is charged with controlling interest rates and responding to financial crises in the economy, among other responsibilities. None of the federal reserve board members are elected by the public.
While Yellen may not change monetary policy, perhaps her selection will encourage more young women to become economists.