The Senate Banking Committee onThursday sent Janet Yellen's nomination to be the next FederalReserve Board chair on to the full Senate.
Yellen's nomination to succeed Ben Bernanke was approved by a14-8 vote and media reports said a full Senate vote is expectedearly next month and that the Democrat-controlled chamber is likelyto confirm the president's nomination.
|If confirmed, the current Fed vice chair would assume thechairmanship through January 2018 after Bernanke steps down at theend of January.
|NAFCU issued a statement from President/CEO Dan Berger notingthat Yellen had expressed at her confirmation hearing earlier thismonth the need to lessen the regulatory burden on credit unions and othercommunity institutions.
|The trade group's board also met with Yellen last December,NAFCU said.
|“We appreciated Vice Chair Yellen's openness and her willingnessto hear credit unions' concerns about economic and regulatorymatters affecting their communities,” Berger said in Thursday'sstatement.
|“We look forward to working with her in her capacity as Fed chair upon her confirmation,” he said.
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