According to Bloomberg, Federal Reserve chairman nominee Janet Yellen will publically express her views on the Fed's massive bond-buying initiative after staying quiet for the past seven months. Yellen testifies in front of the Senate Banking Committee on Thursday.
Testifying to the Senate Banking Committee, Yellen will try to defend a policy that’s swelled the Fed’s balance sheet to almost $4 trillion while facing four Republicans who voted no on her 2010 bid to be vice chairman.
“I still have concerns, which were the concerns behind my original vote on her original nomination, about her support of the quantitative easing and the entire direction the bank has been going for the last few years,” Idaho Senator Mike Crapo, the senior Republican on the Banking Committee, said in an interview. Crapo, who voted against her in 2010, said he hasn’t committed to how he would vote this time.
