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Senators grill Yellen on Fed policy, tapering

She is Obama's pick to succeed Bernanke

7:25 PM, Nov. 14, 2013
Janet Yellen, of California, is President Barack Obama's nominee to become Federal Reserve Board chairwoman. She testified Thursday on Capitol Hill in Washington in front of the Senate Banking Committee.
Janet Yellen, of California, is President Barack Obama's nominee to become Federal Reserve Board chairwoman. She testified Thursday on Capitol Hill in Washington in front of the Senate Banking Committee.
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Janet Yellen, the nominee to succeed Ben Bernanke as head of the Federal Reserve, told Congress Thursday that she would not rule out reducing the Fed's stimulus or raising interest rates to combat investment bubbles.

More broadly, Yellen told the Senate Banking Committee at her confirmation hearing "it's important" that the Fed not taper down its bond buying too soon, "especially when the recovery is still fragile." Noting that 36 percent of jobless Americans have been out of work at least six months, she said, "We know that long spells of unemployment are particularly painful."

At the same ...

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If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports