Obama nominates Janet Yellen to lead US Federal Reserve

October 9, 2013

President Obama nominated Federal Reserve Vice Chair Janet Yellen to replace Ben Bernanke as the chairman of the U.S. central bank.

The nomination follows months of political infighting over the choice of her versus former Treasury Secretary Larry Summers. Yellen’s nomination is already encountering stiff opposition. On Tuesday the Senate’s number two Republican, John Cornyn, expressed concerns about her.

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