Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
She will replace Ben Bernanke as the Chair of the Federal Reserve.
Improvements in the labour market has triggered this sentiment.
The BSE mid-cap and small-cap indices ended flat against Sensex's 0.4% up-move.
Finance Minister Nirmala Sitharaman on Tuesday, April 11, 2023, met with US Treasury Secretary Janet Yellen in Washington, DC.
US President Barack Obama has nominated Janet Yellen to head the Federal Reserve Board, describing her as one of America's "foremost economists and policy makers".
World Bank president Ajay Banga is among the Indians who have made it to the prestigious Times's list of 100 most influential people in the world released on Wednesday. Time's profile of the former Mastercard CEO, written by US Treasury Secretary Janet Yellen, said, "It's not easy to find a leader with the skill and drive to take on the monumental task of transforming an essential institution, but since becoming World Bank president last June, Ajay Banga has done just that." She said Banga comes to the World Bank after leading a global organisation through which he brought millions of unbanked people into the digital economy.
Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
The nomination would put Yellen on course to be the first woman to lead the institution.
On speculative front as well, non-commercials have decreased bullish bets on COMEX silver futures and options to a three-month low.
Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery.
The 30-share Sensex closed 80 points lower at 21,753 levels while the 50-unit NSE Nifty index was down 38 points at 6486 levels. Benchmarks plunged to their lowest levels since March 06, 2014.
US Federal Reserve Chairper Janet Yellen hinted at raising interest rates sooner than expected, in her first press conference after assuming the top job at US central bank.
Ukraine fears weighed on sentiment, with Russia rejecting a peace proposal amidst civil war-like situation in the former Soviet union republic.
The US Federal Reserve has announced to maintain its bond purchase tapering programme.
The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE.
Fed policymakers' deepening uncertainty about their own projections has resulted in the central bank sending mixed messages
In a speech to the National Economists Club that echoed dovish comments by his nominated successor, Janet Yellen, Bernanke also said that while the economy had made significant progress, it was still far from where officials wanted it to be.
The local currency had gained 7 paise to close at 66.57 in Monday's trade.
It is expected that FBI chief Wray will hold talks with senior Indian security officials.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
The world economy has been run for too long by finance enthusiasts. It is time that finance sceptics began to take over.
India and the US on Friday expressed concern over high inflation which is being driven by external factors and has become a challenge for both the nations. Speaking at the US-India Businesses and Investment Opportunities, Finance Minister Nirmala Sitharaman said in India the inflation challenges are prompted more by external factors. "So while the number today is in a manageable range, the challenges are largely due to the import of crude.
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
Fed is still concerned about weak export growth.
United States President Joe Biden and Chinese's wannabe supreme leader Xi Jinping met virtually a few hours ago.
Tata Motors was the top gainer on better-than-expected June quarter revenues
Finance Minister Nirmala Sitharaman on Tuesday highlighted "significant reforms" undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors in Boston. Sitharaman arrived in the US on Monday for a week-long trip to attend the annual meet of the World Bank and IMF in Washingon as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. During the official visit to the US, Sitharaman is expected to meet US Treasury Secretary Janet Yellen.
Among Sensex stocks, Maruti rose the most, followed by Tech Mahindra, Mahindra & Mahindra and Asian Paints. Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
What some of our leaders were up to on Friday, November 11.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
Sensex under pressure as Yellen signals rate hike; banking stock slip.
President Donald Trump has tapped Jerome "Jay" Powell to lead the US central bank, bypassing Janet Yellen for a second term despite praising her excellent management of the world's largest economy over the past four years.
Forex dealers said besides dollar's gains against other currencies overseas, increased demand from oil importers for the US currency put pressure on the rupee.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
The rupee recovered 20 paise to close at over three-week high of 60.47 against the US dollar in the previous session on Friday following strong local equities and capital inflows.
Sharp swings likely in equity, forex and bond markets.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances