Yellen takes over Fed as Bernanke departs

Respected economist Janet Yellen was sworn in Monday as the first woman chair of the Federal Reserve, taking on the burden of winding down the Fed's stimulus without spurring more turmoil. Yellen inherits the mantle of the world's most powerful central banker from Ben Bernanke, who guided the US and the global financial system through its deepest crisis since the 1930s during his eight years in the job. Nominated to the job last October by President Barack Obama, she will serve a four-year term concurrent to her ongoing 14 year term on the Fed's board of governors. The respected economist has worked closely with Bernanke during her three-plus years as Fed vice-chair, and is not expected to depart from his policies aimed at helping lower still-high unemployment levels as long as inflation remains tamed.

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