Senate Moves Toward Confirming Janet Yellen as Fed Chair, to Take Final Vote When It Returns in January

The 6th

The Democratic-led U.S. Senate is expected to wrap up its work for the year on Friday by moving to clear President Barack Obama's nomination of Janet Yellen to head the Federal Reserve.

But under a bipartisan agreement reached on Thursday, the Senate will not vote to confirm Yellen, now the Fed's vice chair, until January 6, the day it returns for the new year. She would replace Ben Bernanke, whose term ends in late January.