US Federal Reserve Vice Chair Janet Yellen showed strength and loyalty in a two-hour confirmation hearing with the US Senate Banking Committee regarding her nomination for the Fed Chairman role.
The securities drop indicated investors' anxiety as they watch out for signs regarding the future US Federal Reserve's bond-buying program from some of its officials next week.
A Reuters report said a change in the US Federal Reserve's bond-buying program might come out from its officials as several of them, including vice chair Janet Yellen, would have speaking engagements next week.
Although US Federal Reserve Vice Chair Janet Yellen would be getting a backlash in the Senate due to her employer's bond-buying program, Louisiana Republican David Vitter was confident Yellen would replace Fed Chairman Ben Bernanke.
Janet Yellen's nomination for the role of chief of US Federal Reserve would add her to the list of women who shape the US economy primarily dominated by men.
US Federal Reserve Chairman nominee Janet Yellen saw no problem in tackling both issues in US unemployment and monetary policies.
US President Barack Obama would nominate the Vice Chairwoman of the Federal Reserve to replace outgoing chairman Ben Bernanke whose term ends in January next year.
A source told Reuters that US Federal Reserve Vice Chair Janet Yellen was still the top choice to succeed Chairman Ben Bernanke in January.
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