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Janet Yellen’s Fed Nomination Nearly Approved


Janet Yellen’s Fed Nomination Nearly Approved (Globe & Mail)

As expected, Janet Yellen’s nomination as chair of the Federal Reserve has been approved by the Senate banking committee and will advance to the full Senate for a vote. Today, a procedural change was introduced which eliminates the filibuster, or prevention of voting, for most presidential appointees. Dr. Yellen now needs only 51 votes to be appointed as Fed chair, although she has gained some Republican support and might have been able to gather the 60 votes needed to overcome a filibuster.