Snowmageddon puts Yellen on ice

McClatchy Washington BureauFebruary 12, 2014 

US NEWS FED-YELLEN 14 ABA

Federal Reserve Board Chairman Janet Yellen

OLIVIER DOULIERY — MCT

— Even before the first snowflake fell in the nation's capital, a massive storm forecast to hit the northeast Wednesday night triggered the postponement of the first Senate testimony by Janet Yellen since becoming head of the Federal Reserve.

Yellen testified before the House Financial Services Committee for roughly six hours Tuesday and was scheduled to go before the Senate Banking Committee on Thursday morning to deliver a twice-a-year update on monetary policy and the economy.

Late Wednesday afternoon, however, Chairman Tim Johnson, D-SD, announced the postponement, adding that time and date for a rescheduled hearing was still to be determined.

Yellen took the helm of the Fed on Feb. 1 and is the first woman ever to head the world's most influential central bank. She is also the first Fed chief appointed by a Democratic president since 1979. She was likely expecting a more friendly day before the Democrat-controlled Senate panel after a tough grilling by House Republicans.

 

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