US Senate's No. 2 Republican opposes Yellen as next Fed chair

The US Senate's number two Republican voiced strong reservations on Wednesday about Janet Yellen as the next chair of the Federal Reserve, signaling potentially significant opposition against her confirmation to this powerful post.

"Ms. Yellen subscribes to the liberal school of thought that the best way to handle our nation's fiscal challenges is to throw more money at them," said John Cornyn of Texas, the party's whip in the Senate. (Reuters)