Efforts to speed Yellen confirmation include Reid-Paul talk

‘Things Done’

“He really has some set political views but he wants to get things done here,’ he said.

Senator Charles Schumer of New York, the chamber’s third- ranking Democrat, said he didn’t think Paul should get a vote on his legislation as a reward for ending the delay.

‘‘I don’t think it should be used to hold up a nomination,” Schumer said at the Capitol, referring to Paul’s measure. “We’ll see what happens.”

Yellen, 67, needs the backing of a simple majority of the chamber’s 100 members to to become the 15th chairman and first woman to head the central bank in its 100-year history.

If confirmed, she will replace Ben S. Bernanke, whose second term as Fed chairman expires Jan. 31. Obama tapped her after front-runner Larry Summers, a former Treasury secretary, dropped out three months ago amid opposition from Democrats on the Senate Banking Committee.

‘Her Expertise’

“We need her expertise at the helm of the Fed as our nation continues to recover from the great recession, completes Wall Street reform rulemakings and continues to enhance the stability of our financial sector,” Senate Banking Chairman Tim Johnson, a South Dakota Democrat, said today in a floor speech.

Yellen, a main architect of the Fed stimulus’s programs, indicated in her Nov. 14 confirmation hearing that she’ll maintain current policies until a “strong recovery” permits the bank to scale back monetary accommodation. She played down risks that the stimulus is inflating asset prices, saying she doesn’t see “bubble-like conditions” for stocks.


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