Senate Poised to Confirm Yellen as Fed Chair

She’ll be the first woman to lead the central bank since it was founded a century ago

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Jacquelyn Martin / ASSOCIATED PRESS

Janet Yellen, of California, President Barack Obama's nominee to become Federal Reserve Board chair, is sworn in on Capitol Hill in Washington.

The Senate is expected Monday to confirm Janet Yellen’s nomination to chair the Federal Reserve, making her the first woman to lead the central bank.

If confirmed in the vote scheduled for early Monday evening, Yellen, 67, will take over for departing chairman Ben Bernanke, whose second 4-year term ends this month. After clearing an earlier procedural hurdle, she is widely expected to win confirmation.

Yellen has voiced concern about high unemployment and support for the bond-buying program that has kept interest rates near zero in order to bolster the fragile economy. Her views are understood to align closely with those of Bernanke, whose tenure has been defined by the Fed’s response to the worst financial crisis since the Great Depression.

Her first scheduled meeting as Fed chair would take place in March. If confirmed, she’ll face significant challenges, including scaling back the bond-buying program that has propped it up in recent years.

4 comments
TomSanders
TomSanders

Another dough faced liberal that's as stupid as a block of wood.

bojimbo26
bojimbo26

She's going to be a wooden chair ?

ReneDemonteverde
ReneDemonteverde

So what happened to Lindsay Graham threat to hold up the nominations if Obama does not release witnesses to the Benghazi investigations ? Crickets

jmac
jmac

@ReneDemonteverde Please, please let Lindsay Graham push that!    You are you're own worse enemy Rene.  The Republican party is doing everything it can to walk the fine line to get back to winning, and you are determined they keep falling down the rabbit hole.   Keep up the good work.   Write to Lindsay and let him know how mad you are. 


By the way, the "witness" they were pushing to investigate - we heard from him on 60 minutes.  How did you miss that?  Apparently, Lindsey doesn't just read right-wing internet articles and follow Fox to get his news.