Federal Reserve Board Chairwoman Janet Yellen takes the oath of office as the new chair of the Federal Reserve Board of Governors at the Federal Reserve Board headquarters in Washington, February 3, 2014. [Photo/Agencies]

WASHINGTON - Janet Yellen was sworn in Monday to a term as chair of the US central bank, the Federal Reserve said in a statement.

Yellen succeeds Ben Bernanke to become the first woman to head the Fed. Her term as chair ends February 3, 2018.

The oath was administered by Governor Daniel Tarullo, the Fed said.