Senate Panel Set to Vote on Yellen Nomination

WASHINGTON -- The Senate Banking Committee is scheduled to vote Thursday on Janet Yellen’s nomination to become the first woman to lead the U.S. central bank, according to the committee’s schedule..

The committee, led by Chairman Sen. Tim Johnson, D-S.D., held a hearing last week on Yellen, President Obama’s pick to succeed outgoing Fed Chairman Ben Bernanke.

Yellen, the No. 2 at the Fed, has previously served as the president of the Federal Reserve Bank of San Francisco and as part of President Clinton’s economic team.

She spent the last several weeks meeting with top Democrats and Republicans on the banking panel ahead of her confirmation hearing. Her nomination must be approved by the committee before it can advance to the Senate floor.