Obama to Announce Yellen Nomination as U.S. Fed Chief Tomorrow
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President Barack Obama will nominate Federal Reserve Vice Chairman Janet Yellen tomorrow to head the U.S. central bank, a White House official said in an e-mailed statement.
Yellen, 67, would succeed Fed Chairman Ben S. Bernanke, whose term ends Jan. 31. She was the favorite in surveys of economists and had the backing of 20 members of the Senate Democratic caucus who signed a July 26 letter to Obama.