Senate Banking Committee Approves Yellen Nomination for Fed Chair

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Of all the people that have been suggested for this post Dr. Yellen seems to be the best choice. Her understanding of the importance of job creation is a very encouraging point in her favor. For a more detailed look at this subject – please read the article below.

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The Senate Banking Committee has voted to approve Janet Yellen’s nomination to chair the Federal Reserve, bringing Yellen one step closer to being the first woman to serve as head of the country’s central bank.

The committee approved Yellen’s nomination by a vote of 14-8, passing it to the Senate floor for a final vote.

Currently serving as the Fed’s vice chair, Yellen is viewed by many on Wall Street as a “dove” on monetary policy who is more concerned with unemployment than inflation.

In her nomination hearing before the committee on November 14, she defended steps the Fed took to stabilize the economy following the economic crash, putting an emphasis on the number of jobs regained. Like her predecessor, Ben Bernanke, she is expected to push for accommodative monetary policy as the economy slowly recovers.

With Senate Democrats and several Republicans supporting her nomination, her confirmation seems likely.

To read the complete article – please use the link below.

Yellen Nomination for Fed Chair

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