US Fed vice chair may be next head after Bernanke

WASHINGTON, D.C.: President Barrack Obama will nominate Janet Yellen on Wednesday (Thursday in Manila) as the first female head of the US Federal Reserve, at a time when raging political turbulence imperils a fragile American economy.

Obama will put Yellen forward for a four-year term, succeeding outgoing US central bank chief Ben Bernanke, whose tenure and policies will forever be associated with tackling the global financial crisis and navigating a recovery.