by Calculated Risk on 1/06/2014 07:14:00 PM

From the WSJ: Yellen Confirmed as Fed Chief

Ms. Yellen, currently the vice chairwoman of the Fed's board of governors, was confirmed in a 56-26 vote to become the first female chief in the central bank's 100-year history. Eleven Republicans joined 45 Democrats to support Ms. Yellen. No Democrats opposed her. Weather-related travel problems caused some lawmakers to miss the vote.
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Mr. Bernanke will preside at the Fed's policy meeting Jan. 28-29. His last day as chairman is Jan. 31. Ms. Yellen is expected to be sworn into office Feb. 1 and lead the Fed's policy meeting in March.

An excellent choice.

Tuesday:
• Early: Reis Q4 2013 Apartment Survey of rents and vacancy rates.

• At 8:30 AM ET, the Trade Balance report for November from the Census Bureau. The consensus is for the U.S. trade deficit to decrease to $39.9 billion in November from $40.6 billion in October.