Yellen To Retire From Fed Once Successor Is Confirmed

Law360, New York (November 20, 2017, 3:31 PM EST) -- Federal Reserve Chair Janet Yellen on Monday announced she would vacate her seat on the central bank’s board of governors once the Senate confirms Jerome Powell to take over the Fed’s leadership.

Yellen, who has served as Fed chair since February 2014, had a separate seat on the Fed’s board of governors that would have allowed her to serve until 2024. But Yellen, 71, said she was confident Powell, who sits on the Fed’s board of governors, would be able to continue the Fed’s work “in a professional, nonpartisan manner.”

Yellen, the first woman Fed chair, served on the Fed’s board...

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