After a heated public battle with Larry Summers last year followed by an easy confirmation in the Senate in October (after a monumental rules change), President Obama’s nominee to chair the Federal Reserve Chair, Janet Yellen, was finally sworn in on Monday. Yellen’s confirmation is historic: She’s the first woman in U.S. history to lead the nation’s central bank.
Her arrival at the Fed is remarkable in so many ways: it boasts a level of power and leadership no woman in U.S. history has never seen. Some have gone as far as to call her the most powerful woman in the world because of her role in setting U.S. monetary policy and the influence her role has on the global economy. At the same time, the power to set monetary policy, to hire, fire, set wages, determine the employment prospects of many, and control over raw wealth is still held globally by men to such a disproportionate level that it is deafening to the senses.
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