House Democratic Women Back Yellen For Fed Chair

Law360, New York (July 31, 2013, 6:58 PM EDT) -- More than 35 female members of the U.S. House of Representatives asked President Barack Obama on Wednesday to promote current Federal Reserve Vice Chairman Janet Yellen to chair the central bank, as the Obama administration defended another potential nominee, Lawrence Summers, from press criticism.

In a letter signed by Rep. Maxine Waters, D-Calif., and 36 other House Democrats, the representatives said Yellen was the most qualified candidate to replace current Fed chairman Ben Bernanke, whose term ends in January.

“Her institutional knowledge and working relationships with...
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