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Senate panel advances Janet Yellen nomination to run Federal Reserve

The Senate Banking Committee on Thursday approved Janet Yellen to chair the US Federal Reserve, setting up a likely confirmation by the full chamber next month. President Barack Obama’s pick to replace outgoing Fed chairman Ben Bernanke passed the committee 14-8, and if approved by the overall Senate would be…

Fed to embrace global banking rules: report

The US Federal Reserve is expected to embrace a new global framework that requires giant financial institutions to hold extra capital, The Wall Street Journal reported Monday. Citing unnamed people familiar with the situation, the newspaper said the Fed’s decision to accept the rules laid out by regulators in Basel,…

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