Thursday, October 10, 2013
Kansas Sen. Pat Roberts says he'll oppose President Barack Obama's nomination of the Federal Reserve's vice chairwoman to the chairmanship of the nation's central bank.
The Republican senator said Wednesday that the Federal Reserve has pursued what he called "destructive" fiscal policies and said he expects that Janet Yellen would continue them if promoted.
Roberts made his comments shortly after the Democratic president nominated Yellen.
Yellen is a close ally of Fed Chairman Ben Bernanke, and she's a key architect of the Fed's efforts to keep interest rates near record lows to support the economy.
Roberts said those policies have hurt seniors who try to live on their savings and are designed to allow the federal government to borrow money as cheaply as possible.