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Janet Yellen Becoming First Federal Reserve Chairwoman

Wed, October 9, 2013 10:26am EDT by 1 Comment

Amazing news: Janet will reportedly be nominated as the first woman to run the Federal Reserve!

For the first time in history, a woman will reportedly be nominated as the chair of the Federal Reserve. Janet Yellen, who currently serves as the Vice Chairman of the Federal Reserve, is expected to succeed Ben Bernanke. Not only is this a monumental moment in history, but it marks significant progress for women in politics.

Janet Yellen: First Woman Federal Reserve Chairman — All The Details

The announcement is scheduled to be made Oct. 9 at 3 p.m., during a press conference with President Barack Obama.

Senate Banking Committee Chairman Tim Johnson, D-SD, spilled the news when he made a statement about the announcement.

“I commend President Obama on his selection of Dr. Yellen to be the first woman to serve as Federal Reserve Chairman,” he said. “She has a depth of experience that is second to none, and I have no doubt she will be an excellent Federal Reserve Chairman.”

New York Senator Chuck Schumer also commented on the announcement.

“She’s an excellent choice, and I believe she’ll be confirmed by a wide margin,” Sen. Chuck told NBC news.

Janet, 67, started her professional career as an assistant professor at Harvard University in 1971. From there, she became an economist for the Federal Reserve Board of Governors; she’s also a Professor Emeritus at the University of California Berkeley’s Haas School of Business. From 2004 to 2010, Janet served as the President and CEO of the Federal Reserve Bank of San Francisco.

Janet’s predecessor, Ben Bernanke, will finish his eight-year tenure in January.

With Janet becoming the first woman to run the Federal Reserve, hopefully this will pave the way for more women in politics. Who knows, maybe a female President of the United States is closer than we think!

What do you think, HollywoodLifers? Drop us a comment below.

WATCH: Janet Yellen Speaks At The University Of California Berkeley

— Nicole Karlis

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