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Obama officially nominates Janet Yellen as Federal Reserve chairman, calling her a 'proven leader'

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President Obama formally nominated Janet Yellen to be chairman of the Federal Reserve on Wednesday afternoon at the White House. Noting that the selection of the Fed chairman would be "one of the most important economic decisions" he would make as president, Obama called Yellen a "proven leader, and she's tough, and not just because she's from Brooklyn." Obama said the 67-year-old Yellen, who...

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