Federal Open Market Committee unanimously selects Janet L. Yellen to serve as its Chair, effective February 1, 2014

The following press release was published by the Board of Governors of the Federal Reserve System on Jan. 30, 2014. It is reproduced in full below.

The Federal Open Market Committee, at its annual organizational meeting this week, unanimously selected Janet L. Yellen to serve as its Chair, effective Feb. 1, 2014. She is scheduled to be sworn in as Chair of the Board of Governors of the Federal Reserve System at 9 a.m. EST February 3. She will remain as Board Vice Chair over the weekend, with the authority to exercise all the duties of the Chair.

Source: Board of Governors of the Federal Reserve System