AlHijjah 4, 1434, Oct 9, 2013, SPA -- President Barack Obama on Wednesday nominated Janet Yellen, currently the vice chair at the Federal Reserve (Fed), to succeed Chairman Ben Bernanke as head of the U.S. central bank. If confirmed by the Senate, Yellen would be the first woman to head any major country's central bank. Yellen, a highly respected economist, is seen as having a similar outlook on monetary policy as Bernanke, who championed the Fed's somewhat controversial $85 billion monthly bond-buying program. At a White House ceremony, Obama said Yellen "is a proven leader and she's tough," and he urged the Senate to confirm her "without delay."
