The most significant change in three decades in how the Senate approves presidential nominees could make one of the least productive Congresses even more gridlocked, endangering efforts to raise the nation’s debt ceiling and fund the government, Republicans say.
The U.S. Senate changed its rules to let a simple majority confirm most presidential nominees, defying opposition from Republicans who called it the most dangerous revision of its process in more than two centuries.
Janet Yellen’s nomination to be chairman of the Federal Reserve won support from the Senate Banking Committee today in a 14-8 vote, moving her bid to be the Fed’s first female head to the Senate for confirmation.
Four Senate Republicans say they’re inclined to support Janet Yellen to be chairman of the U.S. Federal Reserve, leaving her nomination one vote shy of the 60 she needs to be confirmed by the full Senate.
Janet Yellen, nominated to be the next chairman of the Federal Reserve, signaled she will carry on the central bank’s unprecedented stimulus until she sees improvement in an economy that’s operating well below potential.
Federal Reserve policy makers have publicly debated whether to maintain their bond-buying pace since well before Janet Yellen was named last month to succeed Chairman Ben S. Bernanke. One voice has been missing: Yellen’s.