Yellen sworn in as Fed chair in brief ceremony

Janet Yellen is sworn in as Federal Reserve Board Chair, in Washington, Monday, Feb. 3, 2014. Yellen the first woman to lead the Federal Reserve in its 100-year history. (AP Photo/Charles Dharapak)

February 3, 2014 11:26:12 AM PST
It's official - Janet Yellen is the new head of the Federal Reserve.

Yellen was sworn in at a private ceremony Monday morning with her husband by her side. The 67-year-old took the top spot last week, so Monday's event was purely ceremonial.

Yellen is a former UC Berkeley economist and former president of the San Francisco Federal Reserve Bank. She succeeds Ben Bernanke and is the first woman ever to lead the Federal Reserve.

Yellen is expected to continue the fed's policy of maintaining low interest rates while scaling back stimulus programs.