October 8, 2013
After months of speculation, it’s official: Janet Yellen will be the next chair of the Federal Reserve, succeeding Ben Bernanke, the White House said late Tuesday.
President Obama will make the announcement on Wednesday at 3pm ET, the White House said. Both Janet Yellen and current Fed chair Ben Bernanke are expected to attend. That announcement will be right after the Fed releases the minutes from its last meeting, due out at 2pm ET.
Dow and S&P futures shot higher following the announcement, pointing to a higher open on Wall Street Wednesday. What are futures doing now? Click here for the latest futures action.