Senate Panel Approves Yellen For Fed Chair

Law360, New York (November 21, 2013, 3:45 PM EST) -- A U.S. Senate banking committee on Thursday approved the nomination of economist Janet Yellen to be the next chair of the Federal Reserve, setting the stage for a full Senate vote on the former vice chair of the Board of Governors of the Federal Reserve System.

In a 14-8 vote, Senators Bob Corker, R-Tenn., Tom Coburn, R-Okla., and Mark Kirk, R-Ill., crossed party lines to support Yellen’s nomination, while West Virginia Democrat Joe Manchin joined opponents of her bid to lead the Fed.

Chairman of the...
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