Janet Yellen has been sworn in as chair of the US central bank, the Federal Reserve.<br /><br />At the same time Wall Street closed at its lowest level since last June.<br /><br />Her appointment comes at a time when the US economy appears to be improving.<br /><br />She had already taken up her functions since being nominated by President Obama in October and confirmed in her post by the Senate last month.<br /><br />There will be an immediate test this week when new employment figures are published this Friday.<br /><br />Janet Yellen’s term begins as the Fed sets about winding down its huge economic stimulus programme.<br /><br />As vice chair to her predecessor, Ben Bernanke,<br />she was a staunch supporter of the scheme.<br /><br />Soon she will appear before a congressional committee to explain her views on the economy and regulation.<br /><br />Janet Yellen has also been warned that time is short to resolve the latest budget battle.<br /><br />A new deal is expected to be struck this week.
