(CNN) - The U.S. Senate Monday confirmed Janet Yellen as the next leader of the Federal Reserve.
Yellen, who is currently the vice chair of the Fed, is the first women to lead the institution in its 100-year history.
She succeeds Ben Bernanke, whose second term ends this month.
Yellen is slated to take over February 1.
In a statement, President Barack Obama called her a "fierce champion" who will "stand up for american workers, protect consumers" and help grow the economy.
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