Obama to nominate Yellen as Fed chairman later today

President Barack Obama will nominate Janet Yellen as chairman of the Federal Reserve, the first female leader in its 100-year history.

9th October, 2013
Janet Yellen.

President Barack Obama will nominate Janet Yellen as chairman of the Federal Reserve, which would put the world’s most powerful central bank in the hands of a key architect of its unprecedented stimulus program and the first female leader in its 100-year history.

Obama will announce the nomination at 3pm today in Washington, a White House official said in an e-mailed

statement. Yellen, 67, would succeed Ben S. Bernanke, whose term expires on...

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