October 8, 2013 / 7:58 PM / 4 years ago

Obama to name Yellen as next Fed chair on Wednesday: White House

WASHINGTON (Reuters) - President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to be the next head of the U.S. central bank on Wednesday, a White House official said on Tuesday.

If confirmed, Yellen would replace Ben Bernanke, whose current term as head of the Fed ends in January. Obama is due to make the announcement at the White House at 3 p.m.

Reporting By Mark Felsenthal and Jeff Mason; Editing by Stacey Joyce

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