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Obama Names Janet Yellen to Head US Central Bank

U.S. President Barack Obama has nominated Janet Yellen, the current vice chair of the U.S. Federal Reserve, to take over as head of the central bank. The 67-year-old Yellen would replace Ben Bernanke, whose second term as head of the bank ends January 31. She faces a confirmation hearing in the U.S. Senate, but supporters say they think she will win approval for a four-year term. She would be the first woman to lead the central bank in its 100-year history. Mr. Obama praised her as an ...

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