The Senate Banking Committee voted 14-8 to approve the nomination of Janet Yellen to head the Federal Reserve. This bipartisan vote means that the Yellen will now be considered by the full Senate. If confirmed, she will be the first woman in history to lead the central bank.
Senator Elizabeth Warren (D-MA) applauded the committee for its vote. “Janet Yellen has impeccable credentials, and I’m very pleased she was voted out of committee with bipartisan backing,” said Senator Warren. “She recognizes middle-class families are still struggling to dig out of the hole the financial crisis created, and that now is no time for the Fed to pull back.”
The Senate vote yesterday to change the filibuster rules to require a simple majority – rather than 60 votes – to end debate on certain presidential nominees means that Republicans will not be able to block Yellen from receiving a vote on the Senate floor. The Senate is expected to vote on her nomination after the Thanksgiving recess.
Yellen is the current vice chairman of the Federal Reserve and has a long history of experience with central banking.
Media Resources: Feminist Newswire 10/10/13, 11/21/13; TheHill Blog 11/21/13; Elizabeth Warren 11/21/13
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