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Morning six-pack: What we're reading Wednesday

President Obama announces the nomination of Janet Yellen to succeed Ben Bernanke as Fed chairman.
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President Obama announces the nomination of Janet Yellen to succeed Ben Bernanke as Fed chairman.

Happy Wednesday. Feeling mischievous? Grab a six-pack.

The Federal Reserve probably isn't going to do anything at its the Open Markets Committee meeting Wednesday, but that doesn't mean we're not watching. Here's what we think the discussion will sound like: "Party on, Janet." "Party on, Ben." (International Business Times)

Health insurers, meanwhile, are being told to shut up, at least when it comes to criticizing Obamacare. (Weekly Standard)

One guy who's not shutting up is economist Peter Schiff, who contends that Obamacare's problems run a lot deeper than a bad website. (RealClearMarkets)

The Treasury Department, aka the American Taxpayer, is $9.7 billion poorer thanks to the General Motors bailout. (USA Today)

Still think bitcoin is a fad? Tell that to the Norwegian guy who made himself a mint betting on the virtual currency. (BBC News)

And, finally ... Get your popcorn ready for Wednesday's congressional quizzing of Kathleen Sebelius, whose unenviable task it is to manage the Obamacare fiasco. CNBC.com's Dan Mangan has a few questions of his own for the Health and Human Services chief.

—By CNBC's Jeff Cox. Follow him on Twitter @JeffCoxCNBCcom.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.