07/01/2014 04:26 GMT | Updated 23/01/2014 08:17 GMT

Five Things You Should Know About New Fed Reserve Chair Janet Yellen

Janet Yellen was confirmed on Monday night by the Senate as the first woman to head the Federal Reserve.

The 67-year old, who has been Fed Reserve vice-chair, will take over from Ben Bernanke as head of the world's most powerful central bank on February 1.

As economists speculate what will change under her reign, HuffPostUK has rounded up five things you need to know about the new Fed chief.