Transcript: Remarks by the President in Nominating Dr. Janet Yellen as Chair of the Board of Governors of the Federal Reserve System
Reuters: Obama picks Yellen for top Fed job, urges quick Senate approval
President Barack Obama nominated Federal Reserve Vice Chair Janet Yellen on Wednesday to run the world’s most influential central bank and urged the Senate to confirm her without delay.
Yellen, an advocate for aggressive action to stimulate U.S. economic growth through low interest rates and large-scale bond purchases, would replace Fed Chairman Ben Bernanke, whose second term ends on January 31.
The nomination will put Yellen on course to be the first woman to lead the institution and the first to head a central bank in any Group of Seven industrial nation.