Don’t miss the latest developments in business and finance.

Yellen nomination to head Fed clears U.S. Senate procedural hurdle

Image
Reuters WASHINGTON
Last Updated : Dec 20 2013 | 10:57 PM IST

WASHINGTON (Reuters) - Janet Yellen, an unwavering advocate of the Federal Reserve's aggressive steps to boost the U.S. economy, on Friday took a big step toward becoming the first woman to head the central bank as her nomination cleared a Senate Republican procedural hurdle.

On a vote of 59-34, the Senate agreed to end debate on President Barack Obama's nomination of Yellen. A vote to confirm her is set for January 6.

If approved, as widely expected, Yellen would succeed Fed Chairman Ben Bernanke after his term expires on January 31. She is currently the central bank's vice chair.

(Reporting by Thomas Ferraro; Editing by James Dalgleish)

Also Read

First Published: Dec 20 2013 | 10:44 PM IST

Next Story