Janet L. Yellen secured enough "yes" votes to be confirmed as the next leader of the Federal Reserve Monday evening. With the vote still ongoing, she had 55 "yes" votes as of 6:03 p.m. Yellen will lead the nation's central bank for a four year term beginning Feb. 1. (The vote was still ongoing, with 18 senators having not yet voted). Yellen will be the first woman to lead the Federal Reserve, and takes office after years of experience in various roles at the institution, including the last three as vice-chair.
Here's more Wonkblog coverage of Yellen and the challenges that await her at the Fed.
For an overview of her background and experience, here is a profile of Yellen, covering everything from her days as a young academic to her prescient warnings of the housing bubble to her role within the Bernanke Fed.
Here is a look at the greatest challenge she will face as Fed chief: Deciding when the risk of financial bubbles has gotten severe enough that the central bank should let up on its easy money policies.