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Thursday, October 10, 2013

Obama to nominate Yellen as Fed chief.

President Obama is due to officially nominate Janet Yellen as the first woman Chairperson of the Federal Reserve. The Senate will have to confirm the appointment of Yellen, who's known as a bit of a dove when it comes to monetary policy. Global equities were mostly positive at the time of writing as markets weighed the news against the continued deadlock in Washington over the federal budget and debt cap.

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