Yellen is a Step Closer

Janet Yellen’s confirmation as the next Federal Reserve chief became a virtual lock Thursday when a Senate committee approved her nomination and Senate Democrats eased the confirmation process for most presidential nominees.

The Senate Banking Committee voted 14-8 to approve Ms. Yellen’s nomination, sending her name to the full Senate for a final confirmation vote. Eleven of the committee’s 12 Democrats and three of its 10 Republicans voted for her.

A separate rule change by Senate Democrats to limit the use of the filibuster, a delaying procedural move, means Ms. Yellen is nearly guaranteed to become the first woman to lead the Fed in its 100-year history.

WSJ

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.