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Yellen seeks Republican support ahead of confirmation hearings

Janet Yellen

Janet Yellen

Janet Yellen, the presidential nominee to succeed Ben Bernanke as chairman of the Federal Reserve, will meet with key Republican lawmakers this week to garner support ahead of her Senate confirmation hearings later this month.

Republican Sens. Mike Crapo (Idaho), David Vitter (La.) and Bob Corker (Tenn.) were among six Republican lawmakers who opposed Yellen’s vice chair nomination in 2010. Yellen has faced questions about the Fed’s bond-buying program and her monetary policy, CNBC reports.

Yellen would first need approval from the Senate Banking Committee, which is expected to hold a hearing on her nomination on Nov. 14. Republicans hold 10 of the committee’s 22 seats, meaning her nomination would likely go before the full Senate.

Senate Banking Committee Chairman Sen. Tim Johnson (D-S.D.) expressed support for Yellen’s confirmation in a statement last week and said he plans to “move her nomination quickly” through the committee.

If confirmed, Yellen would be the first woman to serve as the head of the Federal Reserve.

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