Obama To Nominate Janet Yellen As Fed Chair


This post has been updated.

President Barack Obama will nominate Janet Yellen as the next chair of the U.S. Federal Reserve on Wednesday, the White House announced in a statement.

The Fed vice chairwoman rose to the top of the list after former White House economic adviser Lawrence Summers withdrew from the running due to stiff resistance from both Democrats and Republicans on the Hill.

Obama will make the announcement at 3pm ET from the White House, and outgoing Fed Chair Ben Bernanke is expected to attend and deliver remarks.

“She’s an excellent choice and I believe she’ll be confirmed by a wide margin,” Sen. Chuck Schumer (D-NY) said in a statement following the announcement.

Masthead Masthead
Editor & Publisher:
Managing Editor:
News Editor:
Assistant Editor:
Editor at Large:
Investigations Desk:
Senior Political Correspondent:
Front Page Editor:
Social Media Editor:
Editor for Prime & Special Projects:
General Manager & General Counsel:
Executive Publisher:
Head of Product:
Director of Technology:
Publishing Associate:
Front-End Developer: