US President Barack Obama will nominate Federal Reserve Vice-Chair Janet Yellen to be the next head of the US central bank on Wednesday, according to a White House official.
If confirmed by the US Senate, Ms Yellen, 67, would replace Ben Bernanke, who has held the post for eight years.
She has been his deputy for the last two years, and would become the first woman to head the Federal Reserve.
Ms Yellen and Mr Bernanke are due to appear with the president on Wednesday.
She has taught at Harvard University and the London School of Economics, as well as holding a series of senior administrative positions in the US.
Read more on this story at the BBC
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