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Obama To Nominate Janet Yellen For Federal Reserve Chair

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President Obama plans to nominate Janet Yellen as chair of the Federal Reserve to succeed current Chairman Ben Bernanke. If confirmed by the Senate, Yellen would be the first woman to serve as chair of the Fed, considered the world's most powerful economic post. A graduate of Brown University, Yellen has taught economics at UC Berkeley, headed President Clinton's Council of Economic Advisers from 1997 to 1999, and served as vice chairman of the Fed since 2010.

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