Janet Yellen listens as U.S. President Barack Obama speaks during a press conference to nominate her to head the Federal Reserve in the State Dining Room at the White House on October 9,
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Janet Yellen nominated as head of US Federal Reserve

9 October 2013 Last updated at 22:45 BST

Janet Yellen has been officially nominated as the next head of the US central bank by President Barack Obama.

Mr Obama called her one of the nation's foremost economists and policy makers.

Mark Mardell reports.