Sen. Paul threatens to hold up Janet Yellen nomination

According to CNBC, Sen. Rand Paul, R-Ky., is threatening to put the nomination of Janet Yellen for Federal Reserve chairman on hold. The senator wants to do this, so he can push for a vote on his Fed transparency bill. CNBC explains:

Paul intends to formally put the hold in place next week, once the Senate is back in session, the source added.

The senator's bill would mandate a complete audit of the Federal Reserve.

According to his website, his bill is a version of legislation advocated by his father, the former Texas congressman and presidential candidate Ron Paul.