By using Thomas Ferraro 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 lady to chair the valuable financial institution as her nomination cleared a Senate procedural hurdle. The Senate voted 59-34 to move ahead with the nomination, indicating considerable improve for her affirmation. If authorized, as broadly anticipated, the Fed’s current vice chair would be triumphant Ben Bernanke, whose 2nd 4-yr time period as chairman expires on January 31. Yellen’s main task would possible be unwinding the extra special stimulus the Fed has put in location right through Bernanke’s watch.
Yellen takes big step toward taking reins at Fed
Posted by admin /