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4 years ago
Fed's George: Yellen pick means smooth transition at Fed helm
October 17, 2013 / 6:28 PM / 4 years ago

Fed's George: Yellen pick means smooth transition at Fed helm

WASHINGTON (Reuters) - President Barack Obama's decision to nominate Janet Yellen as the next chief of the Federal Reserve ought to ensure a straightforward handover when she replaces Chairman Ben Bernanke, a senior U.S. central banker said on Thursday.

"The fact that she has been inside the Fed, I think, will be reassuring to the markets that the transition should be smoother than if we brought in someone that was less well known to the Federal Reserve," Kansas City Fed President Esther George told an event in Oklahoma City.

Bernanke steps down at the end of January. The nomination of Yellen, the current Fed vice chair, must be confirmed by the U.S. Senate.

Reporting by Alister Bull; Editing by James Dalgleish

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