The first woman to run the Federal Reserve is officially on the job.

Janet Yellen was formally sworn-in today during a private ceremony.

Meanwhile, former Fed chairman Ben Bernanke has accepted a post with the Brookings Institution, a prominent DC think tank.

Bernanke served two terms before stepping down recently.

Yellen was the Fed's vice chair and is a former president and CEO of the Federal Reserve Bank of San Francisco.

Yellen, 67, was also a top economic adviser in the Clinton White House. Her term as leader of the nation's central bank expires in early 2018.