Janet Yellen to head the US Federal Reserve

Barack Obama has nominated Janet Yellen to replace Ben Bernanke as chair of the US Federal Reserve.

President Barack Obama has nominated Janet Yellen as chair of the US Federal Reserve, the most powerful central banker in the world. Yellen, 67, the first woman to take the job, will replace Ben Bernanke in January and serve for four years. The current vice-chair of the central bank has spent two decades as a key figure at the Fed.

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