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News Now

Washington
Yellen Fed Nomination Hearing Set For Nov. 14
WASHINGTON (11/8/13)--A Senate Banking Committee hearing on Janet Yellen's nomination to lead the Federal Reserve has been set: The hearing will be held on Nov. 14.

Committee members met with Yellen late last month, and Senate Banking Committee Chairman Tim Johnson (D-S.D.) said their conversation with her "reaffirmed that President Obama has picked an outstanding nominee to serve as the next Federal Reserve Chairman."

If confirmed, Yellen would replace outgoing Fed Chairman Ben Bernanke when his term ends on Jan. 31. She would become the first woman to head the Fed, or any other central bank.

Yellen has served as vice chair of the Board of Governors of the Federal Reserve System since Oct. 4, 2010. Her term ends on Jan. 31, 2024. She also has served as president/CEO of the Twelfth District Federal Reserve Bank, at San Francisco.


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