Release Date: October 4, 2010
For immediate release
Janet L. Yellen and Sarah Bloom Raskin on Monday took the oath of office as members of the Board of Governors of the Federal Reserve System. Dr. Yellen was also sworn in as Vice Chair of the Board. The oaths were administered by Chairman Ben S. Bernanke in the Board Room.
President Obama announced his intention to nominate Dr. Yellen and Ms. Raskin on April 29, 2010. The Senate confirmed them on September 29. Dr. Yellen was nominated to a vacant seat last held by Mark W. Olson, whose term expired. Dr. Yellen's term expires January 31, 2024.
Ms. Raskin was nominated to the seat vacated by the resignation of Donald L. Kohn on September 1, 2010. The term expires January 31, 2016.