Janet Yellen appointed as new chairman of the Federal Reserve

Janet Yellen appointed as new chairman of the Federal ReserveJanet Yellen has been confirmed as the new chairman of the Federal Reserve, however her appointment was backed by the least Senate support on records indicating that the central bank is facing internal differences.

Experts have said that the central bank is still facing scrutiny from political leaders even six years after the financial crisis.  The senate voted 56-26 to confirm Yellen as the new head of the central bank, indicating that she received least support from the leaders.

Chairman Ben S.  Bernanke was selected for the second term to the office in 2010 with a vote of 70-30, which made him the most opposed leader in the central bank.  Yellen is joining the central bank at a time when it has a $4.02 trillion balance sheet inflated with quantitative easing program that was used to revive growth in the world's biggest economy and help it go through the slowdown.

Yellen, who will be the first woman to head the Federal Reserve, will lead the central bank at a troubling time as it is planning to roll back it stimulus package.  The Federal Reserve has already said that it will start rolling back its $10 billion bonds buying programme.