We expect the President to nominate Janet Yellen to be the next Federal Reserve Chair and we expect the announcement to come soon. However, this week’s political calendar may be too crowded to make an announcement. Assuming a government shutdown is avoided, an announcement could come as soon as early next week. The Senate is apt to begin considering the nomination within a few weeks of the announcement. This will include a public hearing in the Senate Banking Committee, and probably questions in writing for the nominee. Both steps are likely to include substantive discussion of monetary policy.
There you go.
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