Yellen Fed Nomination Headed Toward Clearing Senate Hurdle

wochit business
December 20, 2013 AT 9:37 AM
Janet Yellen's nomination to be the next chair of the Federal Reserve appeared certain to clear a procedural hurdle in the U.S. Senate on Friday as a majority of the chamber voted to move forward with the nomination. The procedural roll call vote, however, was continuing. If she clears the hurdle, the Senate plans to hold a confirmation vote on the nomination on January 6. If confirmed, she would succeed Fed Chairman Ben Bernanke after his term expires on January 31.