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Senate Banking Committee Approves Janet Yellen's Nomination For Chairman of the Federal Reserve


Today Janet Yellen's nomination for chairman of the Federal Reserve was approved by the Senate Banking Committee with a vote of 14-8. Chairman of the banking committee, Senator Tim Johnson, said "As we saw in her testimony last week, Dr. Yellen understand the challenges facing our economy and the balance the Fed must strike as we navigate the path back to full employment." The nomination will come to the Senate floor sometime in December for a final vote.