A New York Stock Exchange trader works on the floor on Dec. 17. Stocks rose nearly 300 points after the Federal Reserve announced it plans to begin raising interest rates next year. Andrew Burton/Getty Images hide caption

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The Senate has approved Janet Yellen as the next head of the Federal Reserve. At a ceremony commemorating the Fed's centennial last month, Yellen sat with (from left-to-right) former chairmen Paul Volker and Alan Greenspan, and current Fed leader Ben Bernanke. Mark Wilson/Getty Images hide caption

itoggle caption Mark Wilson/Getty Images