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Marco Rubio to vote against Janet Yellen as Fed chair

Sen. Marco Rubio (R-Fla.) plans to vote against confirming Janet Yellen to serve as the next chairman of the U.S. Federal Reserve.

Sen. Marco Rubio (R-Fla.). (Lynne Sladky/AP ) Sen. Marco Rubio (R-Fla.). (Lynne Sladky/AP )

Rubio said in a statement Thursday that he doesn't have the confidence that Yellen -- who seems likely to be confirmed -- can lead the Fed in the years to come.

“While Dr. Yellen is an accomplished individual, I will be voting against her nomination to chair the Fed because of her role as a lead architect in authoring monetary policies that threaten the short and long-term prospects of strong economic growth and job creation," Rubio said in his statement. "Altogether, she has championed policies that have diminished people’s purchasing power by weakening the dollar, made long-term savings less attractive by diminishing returns on this important behavior, and put the U.S. economy at increased risk of higher inflation and another future boom-bust."

Rubio joins at least five other Senate Republicans who have said they are definitely or probably voting against Yellen, a group that includes Sens. Rand Paul (R-Ky.), Patrick Toomey (R-Pa.), John Hoeven (R-N.D.) and Richard Shelby (R-Ala.).

But five other Republicans, Tom Coburn (R-Okla.), Susan Collins (R-Maine), Bob Corker (R-Tenn.), Lindsey O. Graham (R-S.C.) and Orrin G. Hatch (R-Utah) plan to vote yes, according to a tally kept by Bloomberg News. If that tally holds, Yellen should have sufficient support to be confirmed by the Senate -- presuming all 55 members of the Senate Democratic caucus vote in her favor.

Yellen testified before the Senate Banking Committee last week. The panel is slated to vote Thursday to send Yellen’s nomination to the floor.

Ed O’Keefe is covering the 2016 presidential campaign, with a focus on Jeb Bush and other Republican candidates. He's covered presidential and congressional politics since 2008. Off the trail, he's covered Capitol Hill, federal agencies and the federal workforce, and spent a brief time covering the war in Iraq.



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