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Yellen a Step Closer to Becoming US Central Bank Chief

Economist Janet Yellen has moved a step closer to becoming the first woman to head the powerful U.S. central bank. A Senate panel Thursday approved her nomination to become chair of the Federal Reserve when the current chairman, Ben Bernanke, leaves office at the end of January. The Senate Banking Committee voted 14-8 in her favor, with 11 Democrats supporting her as well as three Republicans. President Barack Obama's nomination of the 67-year-old Yellen now will be considered by...

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