US Fed Head Vote Expected Today

The Democratic-led U.S. Senate is expected to wrap up its work for the year on Friday by moving to clear President Barack Obama’s nomination of Janet Yellen to head the Federal Reserve.

But under a bipartisan agreement reached on Thursday, the Senate will not vote to confirm Yellen, now the Fed’s vice chair, until January 6, the day it returns for the new year. She would replace Ben Bernanke, whose term ends in late January.

The Senate is to vote at about mid-day on Friday on whether to bring debate on Yellen to a close. To prevail on this test vote and advance the nomination, Obama’s Democrats, who hold the Senate, 55-45, need a simple majority and seem certain to get it.

Friday’s vote on Yellen is expected to be the final Senate vote of the year.

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