Senate panel advances Yellen's bid to lead Fed

2013-11-21T16:04:00Z Senate panel advances Yellen's bid to lead FedThe Associated Press The Associated Press
November 21, 2013 4:04 pm  • 

WASHINGTON — A Senate panel on Thursday advanced Janet Yellen's nomination to lead the Federal Reserve, setting up a final vote in the full Senate after lawmakers return from a two-week Thanksgiving break.

Yellen's path to confirmation also became easier on Thursday when the full Senate voted to change its rules for approving all presidential nominees other than Supreme Court selections. Now a simple majority will be required, instead of 60 votes.

Yellen was nominated by President Obama in October to succeed Ben Bernanke, whose second four-year term as chairman will end Jan. 31.

She would be the first woman to lead the Fed and the first Democrat to do so since Paul Volcker stepped down in 1987.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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