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Senate committee to hold Yellen hearing next week

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WASHINGTON (AP) — The Senate Banking Committee has announced that it will hold a confirmation hearing next week to consider President Barack Obama's nomination of Janet Yellen to lead the Federal Reserve.

Yellen is expected to win the committee's approval sometime after the hearing Thursday and to be confirmed later by the full Senate. A Senate vote hasn't been scheduled and might not come until January.

Sen. Lindsey Graham, R-S.C., has said he will delay a Senate vote on Yellen and other Obama nominees until the administration lets survivors of last year's attack on the U.S. diplomatic mission in Benghazi, Libya, speak with congressional investigators.

Obama last month chose Yellen, now vice chair, to succeed Ben Bernanke, who plans to leave the Fed when his second four-year term as chairman ends Jan. 31.

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