Ben Bernanke will step down as Fed Chief in January. President Obama will nominate Janet Yellen.
Janet Yellen would be the first woman to head the Federal Reserve Bank. She has been the Vice President of the Fed since 2010. The Senate will still need to confirm Obama's nomination. Bloomberg has a piece about what the Janet Yellen as Chairman of the Federal Reserve Bank would mean for America.
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Ben Bernanke has been at the helm of the Fed for the past 8 years. Time flies. It almost feels like yesterday that Alan Greenspan was Chairman of the Fed.
Obama will make the nomination of the announcement this afternoon.
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