Rand Paul Will Put Hold on Janet Yellen’s Nomination

Senator Rand Paul (R-KY), speaks at the 2013 Values Voter Summit, held by the Family Research Council, on October 11, 2013 in Washington, DC. The summit, which goes for three days, is attended by a number of Republican senators and high profile conservative voices in American politics. Photo: Andrew Burton/Getty Images

After hinting at his plan for some time, on Tuesday Rand Paul announced that he will place a hold on Janet Yellen's nomination to be Federal Reserve chair unless the Senate holds a vote on the Federal Transparency Act. The legislation passed the House, and has been stalled in the Senate for three years. Yellen is expected to be confirmed anyway, but delaying things is Congress's preferred method of getting things done.