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Obama expected to pick Yellen as US Fed chair

US President Barack Obama will nominate Federal Reserve vice-chair Janet Yellen to be the next head of the US central bank, White House officials have said.

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Read more: US President Barack ObamaWhite House officialsYellenBen BernankeDemocratsFederal Reserve vice-chair Janet YellenSenate DemocratCEOExecutive AppointmentsFed chair candidate Larry SummersFederal Reserve BankFrank-Dodd reformsJanuaryLawrence SummersObamacareSan Francisco branchSenate Banking CommitteeTreasury secretaryUS Fed chairUS SenateUS Senator Charles Schumer