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Janet Yellen elected Biden’s Treasury Secretary

President-elect Joe Biden will nominate former Federal Reserve Board Janet Yellen, an economist at the forefront of 30 years of policy-making, as the next Treasury Secretary, according to people familiar with the decision.

If confirmed by the Senate, Yellen will be the first woman to do the job. Mr Biden’s election is in a position for a 74-year-old labor economist to lead his administration’s efforts to drive recovery from the destruction caused by the coronavirus pandemic.

Yellen, the first woman to lead the Federal Reserve Board, will be the first to lead the Treasury, the Central Bank, and the White House Council on Economic and Fiscal Policy.

Yellen declined to comment on the phone on Monday.

Separately, Mr Biden’s transition team said he would nominate Alejandro Mallorcus, who heads the Department of Homeland Security and Avril Haynes as Director of National Intelligence. Former Secretary of State John Kerry will serve as the Special Envoy for Climate Change.

Janet Yellen elected Biden’s Treasury Secretary

Source link Janet Yellen elected Biden’s Treasury Secretary

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