At a meeting last week, the last under Bernanke's leadership, the Fed approved a second $10 billion reduction in its monthly bond purchases to $65 billion. The Fed's bond buying has been intended to keep long-term interest rates near record lows to stimulate the economy. Hensarling has argued that the Fed's use of trillions in bond purchases and ultra-low rates have left the country vulnerable to higher inflation and economic instability. Yellen made no comments during the ceremony Monday in which the oath of office was administered by Fed Governor Daniel Tarullo, the senior member of the Fed's seven-member board.
Source: USA TODAY
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