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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.