Senate Committee Pushes Yellen Nomination Forward

Approved for full Senate vote

A Senate panel has advanced Janet Yellen's nomination to lead the Federal Reserve, setting up a final vote in the full Senate. The timing of a Senate vote isn't clear, but Yellen is widely expected to win confirmation.

The Senate Banking Committee approved the nomination on a 14-8 vote.

Sen. Joe Manchin, D-V.Wa., was the only Democrat to oppose Yellen's nomination. Republican Sens. Bob Corker of Tennessee, Tom Coburn of Oklahoma and Mark Kirk of Illinois supported her.

Yellen was nominated by President Barack Obama in October to succeed Ben Bernanke, whose second four-year term as chairman will end Jan. 31.