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Sen. Pat Toomey says he won't support Janet Yellen's nomination as Fed chair

By Katie Shank, Senior Producer, KShank@wfmz.com
Published On: Nov 21 2013 04:06:13 PM CST
Updated On: Nov 21 2013 04:55:45 PM CST

Pennsylvania U.S. Sen. Pat Toomey is taking issue with the Federal Reserve.

WASHINGTON -

Pennsylvania U.S. Sen. Pat Toomey is taking issue with the Federal Reserve.

A Senate panel on Thursday approved Janet Yellen's nomination to be the next chair of the Fed.

Yellen is expected to be confirmed by the full Senate next month, but Toomey, a Republican, said he won't vote for her, even though he thinks she has an impressive background and experience.

Toomey said Federal Reserve policy and practice are posing a grave risk to our economy, so to demonstrate his concerns, he will not support the nomination.