Sen. Rand Paul, a Republican from Kentucky long critical of the Federal Reserve, predicted today that Fed Vice Chairman Janet Yellen will win Senate confirmation to succeed Ben Bernanke as central bank chairman.
Asked if Yellen will be confirmed, Paul said, “In all likelihood, yes.”
He spoke in an interview on Bloomberg Television’s “Political Capital with Al Hunt” airing this weekend.
Paul, a sponsor of legislation requiring regular public audits of the central bank, said, “I want to draw attention to the fact that `Audit the Fed’ has been held hostage by Senator Reid for three years.”
“Apparently Janet Yellen’s been in favor of transparency at the Fed,” he said. “That’s all we’re asking for is an open audit a year after the fact.”
President Barack Obama this month chose Yellen to succeed Bernanke, whose term expires Jan. 31.