Yellen Is Confirmed

Janet Yellen was confirmed today as the next Chairman of the Federal Reserve. The vote was 56 to 26. A number of senators didn’t vote because of the weather.

Ms. Yellen was confirmed 56 to 26, with many senators kept away from the Capitol due to inclement weather. Nearly one dozen Republicans — including Kelly Ayotte of New Hampshire, Saxby Chambliss of Georgia and Tom Coburn of Oklahoma — crossed the aisle in support of Ms. Yellen. Ms. Yellen will be the first Democratic nominee to run the Fed since President Jimmy Carter named Paul Volcker as chairman in 1979.

Still, it is the thinnest margin of Senate approval for a Fed chairman in the central bank’s history. Mr. Bernanke was confirmed for a second term as chairman with 70 yes votes and 30 no votes in 2010.

Posted by on January 6th, 2014 at 7:35 pm


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