A couple big news items from the US Senate today

A couple big news items from the US Senate today. First off, the Senate confirmed Janet Yellen as the next Fed chief. While this doesn't come as a surprise, it's good news for equities and the US economy in general. Yellen is supportive of highly accommodative monetary policy and will continue to support strong stimulus measures until the economy is truly healthy. Moreover, while fiscal policy is likely a better method of pulling an economy out of a recession, Yellen as Fed chief means there's a limit to how much damage Congressional gridlock can do. In other news, the Senate passed a surprising trial vote on extending unemployment benefits. This measure likely won't pass the House but shows Congress may actually negotiate on something labor related for a change. More importantly, it could lead the way to a hike in the minimum wage.