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Janet Yellen named as head of the Federal Reserve

6 January 2014 Last updated at 23:55 GMT

The US Senate has confirmed Janet Yellen as the chair of America's central bank, the Federal Reserve.

The Senate voted 56-26 to approve the nomination. Ms Yellen, who is 67, will succeed Ben Bernanke after his term as Fed chairman expires on 31 January.

Ms Yellen, formerly the Fed's deputy chair, was President Obama's nominee and will be the first woman ever to hold the post.

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