San Francisco – Democratic Leader Nancy Pelosi released the following statement today after the U.S. Senate confirmed Dr. Janet Yellen as the head of the Federal Reserve. Currently serving as the Vice Chair of the Federal Reserve System’s Board of Governors, Yellen will replace Chairman Ben Bernanke and become the first woman to chair the Federal Reserve.
“Since its founding, the Federal Reserve System has stood as a vital pillar of America’s economic stability and strength. With the confirmation of Dr. Janet Yellen as the first Chairwoman in the 100-year history of our central bank, the Senate has taken a momentous and much-needed step to ensure our country continues to be the engine of a thriving global economy.
“Dr. Yellen will lead the Federal Reserve with an extraordinary level of discipline, determination, and expertise on America’s economy. As a Professor Emeritus at University of California-Berkeley, she quickly rose as a respected leader in the field of economics and later worked within the Federal Reserve system for nearly ten years – as a governor, as the President and CEO of the Federal Reserve Bank of San Francisco, and currently as vice chair. That proven record of leadership will serve as the foundation of her bold vision and personal commitment to fighting inflation, reducing unemployment, and promoting America’s long-term economic growth.
“Chairman Ben Bernanke is an exemplary leader who helped guide our country through an economic recession and our recovery. With her integrity, dedication, and skill, Dr. Yellen will ensure America continues to have a steady hand at the helm of the Federal Reserve. As Dr. Yellen takes her rightful place in history, she reaffirms a fundamental truth about our country: When women have a seat at the table, America will continue to stand in the world as a beacon of economic strength and significant progress. When women succeed, America succeeds.”