Janet Yellen, who was nominated to succeed Ben Bernanke as the chairman of the Federal Reserve, is reportedly arranging meetings with Senate Banking Committee members ahead of a confirmation hearing expected next month.
Yellen—the current vice chairman at the Fed—plans to meet with Sens. Richard Shelby (R-Ala.), Bob Corker (R-Tenn.) and Joe Manchin (D-W. Va.), with possible meetings scheduled with Sens. Jon Tester (D-Mont.), Jeff Merkley (D-Ore.), Dean Heller (R-Nev.), Sherrod Brown (D-Ohio), Heidi Heitkamp (D-N.D.) and David Vitter (R-La.).
Sen. Rand Paul (R-Ky.) vowed last week to put a hold on Yellen’s nomination unless he gets a vote on the Federal Reserve Transparency Act, legislation he sponsored that is designed to more closely scrutinize the central bank by opening up monetary policy decisions to a congressional audit, Reuters reports.
Though Yellen is widely expected to win confirmation, many Republicans have criticized the central bank’s monetary easing as potentially risking fueling asset bubbles.