Yellen's Fed Nomination May Hit Washington Gridlock

Receiving Wide Coverage ...

Yellen Picked as Next Fed Leader: President Obama will formally nominate Janet Yellen today to be the chairwoman of the Federal Reserve, the White House announced Tuesday. Yellen, current vice-chair of the Fed, was one of the front runners to replace Ben Bernanke, the current chairman, who is set to step down in January. She became the top candidate after Lawrence Summers withdrew his name from consideration last month. Although Yellen's nomination...