Smooth Sailing for Yellen at Senate Hearing

Janet Yellen “breezed through questions about the financial crisis, the Fed’s stimulus efforts and banking regulation, as the Senate Banking Committee weighed her nomination to serve as future head of the Federal Reserve,” CNN Money reports.

Daily Beast: “The Senate remains a remarkably politicized place. Tea Party rogues like Ted Cruz of Texas and Mike Lee of Utah are gumming up the works. Republicans are filibustering Obama judicial nominees. And a grand bargain on taxes and spending remains elusive as ever. But at the Yellen hearing, the members of the Senate Banking Committee signaled that they essentially accept the status quo.”

Wonk Wire: The good news and bad news for Janet Yellen.