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Obama to nominate Janet Yellen as Federal Reserve chairman

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President Obama will announce Janet Yellen as his nominee to replace Ben Bernanke as chairman of the Federal Reserve system on Wednesday afternoon, White House officials said Tuesday evening. The 67-year old Yellen, the current vice chairman of the Fed, would become the first female leader of the central bank. Yellen has been viewed as the favorite for the job since former Obama economic...

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