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Senate sets Monday Vote on Janet Yellen to Head Fed

Senate sets Monday Vote on Janet Yellen to Head Fed (Reuters)

Janet Yellen moved toward final approval as the Federal Reserve‘s next chair after the U.S. Senate set a Monday vote on President Barack Obama’s choice to succeed Ben Bernanke. The Senate is expected to vote at around 5:30 p.m. EST Monday on Yellen’s nomination, according to a Senate Democratic aide. Yellen, who would become the first woman to chair the U.S. central bank, is expected to assume the post on Feb. 1, one day after Bernanke ends a two-term stint as a chairman unafraid to reach deep into the Fed’s monetary toolbox to try to revive an economy that struggled to recover. Yellen has been supportive of decisions to move the Fed into uncharted monetary policy waters, as the Fed’s vice chair since 2010 and before that as chief of the San Francisco Fed.

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Janet Yellen moved toward final approval as the Federal Reserve's next chair after the U.S. Senate set a Monday vote on President Barack Obama's choice to succeed Ben Bernanke.

archive

Senate sets Monday Vote on Janet Yellen to Head Fed

Janet Yellen moved toward final approval as the Federal Reserve’s next chair after the U.S. Senate set a Monday vote on President Barack Obama’s choice to succeed Ben Bernanke.

Senate sets Monday Vote on Janet Yellen to Head Fed (Reuters)

Janet Yellen moved toward final approval as the Federal Reserve‘s next chair after the U.S. Senate set a Monday vote on President Barack Obama’s choice to succeed Ben Bernanke. The Senate is expected to vote at around 5:30 p.m. EST Monday on Yellen’s nomination, according to a Senate Democratic aide. Yellen, who would become the first woman to chair the U.S. central bank, is expected to assume the post on Feb. 1, one day after Bernanke ends a two-term stint as a chairman unafraid to reach deep into the Fed’s monetary toolbox to try to revive an economy that struggled to recover. Yellen has been supportive of decisions to move the Fed into uncharted monetary policy waters, as the Fed’s vice chair since 2010 and before that as chief of the San Francisco Fed.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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