Sen. Pat Toomey says he won't support Janet Yellen's nomination as Fed chair

Posted: 5:06 PM EST Nov 21, 2013   Updated: 5:55 PM EST Nov 21, 2013
Janet Yellen

Pennsylvania U.S. Sen. Pat Toomey is taking issue with the Federal Reserve.

A Senate panel on Thursday approved Janet Yellen's nomination to be the next chair of the Fed.

Yellen is expected to be confirmed by the full Senate next month, but Toomey, a Republican, said he won't vote for her, even though he thinks she has an impressive background and experience.

Toomey said Federal Reserve policy and practice are posing a grave risk to our economy, so to demonstrate his concerns, he will not support the nomination.