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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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