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Obama to nominate female fed chief

  • President Obama will nominate Federal Reserve vice chair Janet Yellen to become the next chairman of the US central bank. 

    Yellen will be handed over her responsibilities at a pivotal time period for the banking industry and will become the first woman to have ever held the position. 

    Ben Bernanke, who helped the country during the financial crisis and recession, is soon to complete an eight-year long tenure on Jan. 31. Both Bernanke and Yellen are scheduled to appear with the president for an announcement at the White House tomorrow. 

    Tagged as: federal reserve, janet yellen, us central bank chairman, money news, economy, business news