On December 20, 2013, the U.S. Senate voted 59–34 for cloture on Yellen's nomination. On January 6, 2014, she was confirmed as Chair of the Federal Reserve by a vote of 56–26, the narrowest margin ever for the position. In addition to being the first woman to lead U.S. central bank, or any major central bank, Yellen is also the first Democratic nominee to run the Fed since Paul Volcker became chairman in 1979. In all Group of Eight ("G8") economies, there has been only one female central bank head in history before Yellen: Russia’s Elvira Nabiullina. After being elected by the Federal Open Market Committee as its chair on January 30, 2014, she took office on February 3, 2014. In her 2014 semiannual testimony on monetary policy, Yellen said that while real estate, equities, and corporate bond prices "have risen appreciably and valuation metrics have increased" they were "generally in line with historical norms"; Yellen noted some concerns about valuations of "lower-rated corporate debt" (i.e., junk bonds), and noted that she and the Fed were monitoring trends, but did not believe that a so-called "everything bubble" was forming.