BEIJING -- The U.S. Senate Banking Committee has approved Janet Yellen?s nomination to lead the Federal Reserve with a 14-8 vote.
Fed Vice-Chair Janet Yellen was nominated by President Barack Obamain October. She is widely expected to succeed Ben Bernanke, whose second four-year term as Fed chairman will end on January 31st.
If successful, she will become the first woman to lead the U.S. Central Bank.
Meanwhile, Senate Democrats passed a rule change lowering the votes needed to overcome procedural roadblocks on future presidential appointments from 60 to 51.
Democrats currently control 55 of the chamber's 100 seats.
