Schumer says Obama should nominate Yellen as Fed chair

WASHINGTON (Reuters) - Democratic Senator Charles Schumer on Wednesday urged President Barack Obama to nominate Federal Reserve Vice Chair Janet Yellen as the next chief of the U.S. central bank.

Speaking at a news conference, Schumer, a New York Democrat who serves on the Senate Banking Committee, said that he had previously supported either Yellen or former White House adviser Larry Summers to succeed Ben Bernanke as the head of the U.S. central bank next year.

Now that Summers has dropped out, "I think the president should choose Yellen," he said.

(Reporting By David Lawder; Editing by Diane Craft)