US senate confirms Yellen as chair of Federal Reserve

The US Senate has confirmed Janet Yellen to serve as the next chair of the Federal Reserve, after Ben Bernanke finishes his second term at the end of the month. Senators voted 56 to 26 in her favor, with many missing the vote because of inclement weather. Eleven Republicans broke party ranks, voting to support Yellen, the (CNN) reported. She will be the first woman to head the Federal Reserve in its 100-year history. In a statement, President Obama said he is "confident that Janet will stand up for American workers, protect consumers, foster the stability of our financial system, and help keep our economy growing for years to come."