Federal Reserve appoint first female head

The US Senate has voted to make Janet Yellen the first female head of the Federal Reserve in its 100 year history.

President Barack Obama welcomed the vote, saying in a statement: “The American people will have a fierce champion who understands that the ultimate goal of economic and financial policymaking is to improve the lives, jobs and standard of living of American workers and their families.”

Yellen is a supporter of the Federal Reserve’s bond buying scheme of quantitative easing worth $75bn a month.