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Senate confirms Yellen, first woman to head Federal Reserve


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Obama called Yellen a "proven leader" and hailed her frequent focus on the unemployed, saying, "She understands the human cost when people can’t find a job."

She will be the first Fed chair appointed by a Democratic president since Paul Volcker, who was appointed by President Jimmy Carter, left the post in 1987.

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Yellen will preside over her first Fed meetings as chair on March 18 and 19.

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AP Economics Writer Martin Crutsinger contributed to this report.




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