President Obama intends to officially nominate Janet Yellen to be the Chairperson of the Federal Reserve at 3pm today. Yellen, 67, would be promoted from her current post as vice chairwoman which she has held since 2010 to be the first woman to lead the Federal Reserve. She still has to be confirmed by congresses, but after Lawrence Summers dropped out of contention it is expected that Yellen will receive bipartisan support. I (and everyone else quite frankly) wrote about how Summers withdrawal in September would likely lead to a nomination of Yellen, so this move does not come as much of a surprise.
At 3:00 today, the nomination will be official, so I encourage you to go back and check out this post from last month providing an overview of the six things you need to know about Janet Yellen, the next chairperson of the Federal Reserve.