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Obama Set To Select Brooklyn Native As New Fed Chair

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TWC News: Obama Set To Select Brooklyn Native As New Fed Chair
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The White House says President Barack Obama will select Fed Vice Chair Janet Yellen to succeed Fed Chairman Ben Bernanke.

Yellen, a native of Brooklyn, would become the first woman to lead the nation's central bank.

Bernanke's term will end in January, capping off an eight-year tenure that saw him help the country out of the worst financial crisis since the Great Depression.

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