POLITICS
07/27/2013 01:56 pm ET Updated Jul 29, 2013

Elizabeth Warren Signs Letter Backing Janet Yellen To Lead Federal Reserve: Report

Sen. Elizabeth Warren (D-Mass.) has signed a letter backing Janet Yellen to lead the Federal Reserve, the Boston Globe reports.

The Globe reports on the letter:

Senate Democrats have been circulating a letter that doesn’t mention Summers, but makes a point of praising Yellen -- and urging the president to appoint her. The letter has not been made public, and a copy obtained by the Globe did not list signatures. One source estimated that nearly half of the Senate Democrats had signed on.

A Warren spokeswoman confirmed to the Globe late on Friday that the Massachusetts senator had signed it. The state’s other senator, Democrat Edward J. Markey, had not signed, according to his office.

The move puts Warren in agreement with many on Wall Street and against President Barack Obama, who is believed to want Larry Summers for the job. Opposition to Summers has recently grown, with many Democrats speaking out against his potential nomination.

In a July, Warren said she'd like to see Paul Volcker -- an 85-year-old former Fed chairman who isn't on the shortlist of candidates -- to be the next Fed Chair.

Click here for more from the Globe.

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