WASHINGTON Oct 9 The U.S. Senate's number two
Republican voiced strong reservations on Wednesday about Janet
Yellen as the next chair of the Federal Reserve, signaling
potentially significant opposition against her confirmation to
this powerful post.
"Ms. Yellen subscribes to the liberal school of thought that
the best way to handle our nation's fiscal challenges is to
throw more money at them," said John Cornyn of Texas, the
party's whip in the Senate.
"This stimulus obsession is the reason the nation finds
itself in the fiscal calamity it does today, and the last thing
we need is a leader at the helm of the Federal Reserve who is
intent on more quantitative easing that harms our economy," he
said in a statement.
President Barack Obama plans to nominate Yellen later on
Wednesday to replace Fed Chairman Ben Bernanke, whose current
term ends in January. The appointment requires confirmation by
the U.S. Senate, where Obama's Democrats control 54 of the 100