Meet the world’s most powerful woman: Five things to know about new Fed chair Janet Yellen

After the most public Fed chair nomination battle in recent history, President Obama has finally appointed Janet Yellen to replace Ben Bernanke when he retires from his position atop America’s central bank next year.

Yellen was the frontrunner ever since Larry Summers pulled his name out of the ring last month, and American markets rose on her appointment. She’s seen as a steady, safe pair of hands who will likely maintain many of the policies enacted under Bernanke.

She’s also the first woman to hold the role, and only the 17^th woman to lead a central bank worldwide.