Categories: BankingPolitics

Senate sets Monday Vote on Janet Yellen to Head Fed

Federal Reserve

Senate sets Monday Vote on Janet Yellen to Head Fed (Reuters)

Janet Yellen moved toward final approval as the Federal Reserve‘s next chair after the U.S. Senate set a Monday vote on President Barack Obama’s choice to succeed Ben Bernanke. The Senate is expected to vote at around 5:30 p.m. EST Monday on Yellen’s nomination, according to a Senate Democratic aide. Yellen, who would become the first woman to chair the U.S. central bank, is expected to assume the post on Feb. 1, one day after Bernanke ends a two-term stint as a chairman unafraid to reach deep into the Fed’s monetary toolbox to try to revive an economy that struggled to recover. Yellen has been supportive of decisions to move the Fed into uncharted monetary policy waters, as the Fed’s vice chair since 2010 and before that as chief of the San Francisco Fed.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.