New York (CNNMoney) - The U.S. Senate has confirmed Janet Yellen to serve as the next chair of the Federal Reserve, after Ben Bernanke finishes his second term at the end of the month.
Senators voted 56 to 26 in her favor, with many missing the vote because of inclement weather. Several Republicans broke party ranks in support of Yellen.
New York (CNNMoney) - Let the grilling begin: Janet Yellen heads to Capitol Hill this morning to face the Senate Banking Committee in her confirmation hearing to serve as the next head of the Federal Reserve.
In opening statements released ahead of the hearing, Senator Tim Johnson, chairman of the committee, said he is "excited" to cast his vote in her favor.
(CNNMoney) - Rand Paul is threatening to try to block the full Senate from considering President Obama's nomination of Janet Yellen to head the Federal Reserve.
The Kentucky Republican said in a statement that he intends to put a hold on the nomination unless his legislation to have audits of the Fed is brought to a vote as well.
New York (CNN Money) - President Obama will nominate Janet Yellen to serve as the next chair of the Federal Reserve, a senior White House official said Tuesday.
The announcement will be made on Wednesday at 3:00 p.m., the official said.
New York (CNNMoney) – After months of contentious public debate, Larry Summers has withdrawn his name from consideration to become the next chairman of the Federal Reserve, sources familiar with the decision confirmed to CNN.
President Obama said he spoke with Summers earlier Sunday and accepted his decision.
New York (CNNMoney) - More than 300 economists have signed a letter urging President Obama to nominate Janet Yellen as the next Federal Reserve chair.
"Dr. Yellen is superbly qualified," the letter says.
New York (CNNMoney) - Female economists aren't the only ones who want Janet Yellen to be the new Federal Reserve chair.
A CNNMoney survey of 21 economists - mostly male - showed lots of support for Yellen and virtually none for the other frontrunner, former Treasury Secretary Larry Summers. While gender was not a factor in the survey's recipients, only two of the respondents were women. A separate survey by CNNMoney that polled only female economists, showed overwhelming support for Yellen.
New York (CNNMoney) - Janet Yellen is the best candidate to succeed Ben Bernanke as head of the Federal Reserve, and gender should have absolutely nothing to do with it. That's the overwhelming consensus from a CNNMoney survey of top female economists.
Last week, we sent a questionnaire to 100 female economists in academia and the private sector, several who have worked with Larry Summers and Yellen in the past. We asked them to choose: Which of these two top contenders is their preferred candidate for Federal Reserve chair?
Washington (CNN) – The potential nomination of Janet Yellen to serve as the next chairman of the Federal Reserve is gaining traction on Capitol Hill.
Three Democratic senators signed a letter encouraging President Barack Obama to nominate the current vice chair of the Fed and former chairman of the White House Council of Economic Advisers to the post, according to Senate aides.
Oldsmar, Florida (CNN) - Republican vice presidential candidate Paul Ryan called the Federal Reserve's latest effort to stimulate the economy "insidious" during a speech to Floridians on Saturday.
The Federal Reserve this week announced a new round of quantitative easing, the central bank's program to increase the money supply by buying up billions of dollars worth of debt held in mortgage-backed securities.