The announcements completed a leadership transition, with Yellen becoming top policy maker as the Fed tries to wean financial markets off a bond purchase program that has pushed up central bank assets to $4.1 trillion. She is scheduled next week to report on monetary policy in semi-annual testimony before the House and Senate.
Yellen’s oath of office was administered in the Fed’s board room by Fed Governor Daniel Tarullo, the central bank said in a statement today in Washington. Her term will last through Feb. 3, 2018. She didn’t make a public statement at the ceremony.
Yellen will testify before the House Financial Services Committee on Feb. 11, and before the Senate Banking Committee on Feb. 13.