Senate Banking to vote Thursday on Yellen

The Senate Banking Committee will vote Thursday on Janet Yellen's nomination to take over as head of the Federal Reserve.

The vote will come one week after she appeared before the panel to discuss how she would direct the nation’s monetary policy.

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If confirmed by the full Senate, Yellen would take over for current Chairman Ben Bernanke, whose term is set to expire at the beginning of 2014. She also would become the first ever female head of the Fed.

At her confirmation hearing, Yellen faced little direct opposition from Republicans regarding her nomination. Several GOP lawmakers made their concerns known about the Fed’s current policy, which is aimed at providing continued stimulus to the economy. Republicans have been long wary of this approach, arguing it is ineffective and subjects the nation’s economy to potential disruption and damaging inflation.

Republicans did not directly challenge Yellen's qualifications, however, which suggests she will face little resistance at the committee level.

For her part, Yellen did not shy away from her support for such Fed stimulus, arguing the central bank had an obligation to boost the economy before returning to more normal monetary policy tools.

Yellen is now the vice chair of the Fed.