Yellen meeting with senators ahead of hearing
Oct. 28, 2013 – Janet Yellen, nominated to succeed Ben Bernanke as chair of the Federal Reserve Board, is reportedly lining up meetings with key Senate Banking Committee members in advance of a hearing on confirmation expected in November.
Reuters reported that Yellen, currently the Fed’s vice chair, plans to meet with Sens. Richard Shelby, R-Ala., and Bob Corker, R-Tenn. She also has a meeting slated with Sen. Joe Manchin, D-W.Va., on Nov. 6. The Wall Street Journal reported that she may also meet 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., has threatened to put a “hold” on her nomination unless he gets a vote on his bill to put the central bank under further review. Ultimately, Yellen is widely expected to win confirmation.
Yellen met with NAFCU’s board in December at Fed headquarters to discuss the association’s 2012 Report on Credit Unions and issues of interest to both the Fed and credit unions. It was the 20th consecutive year the Fed hosted such a meeting with NAFCU. NAFCU's board returns to the Fed in December to meet with Fed Board Gov. Jeremy Stein.
2012 Report on Credit Unions
The Wall Street Journal article