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Senate Panel Considers Janet Yellen For Fed Chair

Senate Panel Considers Janet Yellen For Fed Chair

A Senate panel is considering President Barack Obama's nomination of Janet Yellen to chair the Federal Reserve today.

In a confirmation hearing, Yellen vowed to continue the Fed's aggressive stimulus program.

She cited steady improvement in the economy after the deep recession.

Noting continued high unemployment, Yellen said there is still a lot of hard work ahead.

If confirmed by the Senate, Yellen will become the first woman to hold the top post at the U.S. central bank.

She is currently the vice chair of the Fed. Current Fed chief Ben Bernanke will retire when his second term expires in January.

 

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