Janet Yellen is the perfect choice to tackle the worst economic crisis in a century, and the problems that lie beyond.
Both the US and Australia face a global economy that is in deep, deep trouble, writes Richard Holden.
It is significant to have a woman at the head of the US Federal Reserve for the first time, but in terms of monetary policy it's probably business as usual. And that is a good thing for us all, writes Geoffrey Garrett.
