Ben Bernanke

Janet Yellen has been voted in by the US Senate to become the first woman to lead the Federal Reserve.

Markets have rallied today following the Federal Reserve's move to scale back its quantitative easing programme as the US economy recovers.

REVIEW OF THE YEAR

FIXED INCOME

COMMENT

J.P. Morgan Asset Management (JPMAM)'s Tony Lanning has bought into a resources ETF across his multi-manager range, after exhausting the search for an active alternative.

PROPERTY

ECONOMIC OUTLOOK

Janet Yellen will be nominated as the first female Federal Reserve chairman later today, in a ceremony attended by Barack Obama and current chair Ben Bernanke.

Multi-asset managers are raising cash levels and adding to government bonds as fears over the US economy spook investors.