Obama nominating Yellen to be Fed chief

|By:, SA News Editor

Minutes after the WSJ reported a nomination is set to occur, the White House has announced Pres. Obama will officially nominate Janet Yellen to be the next Fed chief at 3PM ET tomorrow. The Senate will have to confirm the appointment.

Yellen, currently the Fed's vice chairwoman, has been expected by many to secure the nomination. Speculation has been rife on what policy changes, if any, she would implement.

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