Yellen brings history of policymaking, bipartisan support to Treasury

Daniel Fowler
November 24, 2020

She doesn't have an easy job ahead of her.

If confirmed by the Senate, Yellen, 74, will be the first woman to hold the top job.

House Democrats under Speaker Nancy Pelosi and Republicans led by current Treasury Secretary Steven Mnuchin have been unable to agree on another spending package to help struggling Americans and businesses since March.

Fox reported a short time ago that anet Yellen leapfrogged Lael Brainard, Roger Ferguson to likely run Biden's Treasury Department.

Biden's selection of Yellen is a signal of stability at a time of economic fragility amid the ongoing coronavirus pandemic. At the end of 2017, Yellen dismissed the notion that the Fed was looking into issuing a digital dollar.

Donald Trump's son catches COVID-19
Trump Jr. had campaigned extensively across the country in support of his father in the November 3 presidential election.

Janet Yellen graduated from Brown and Yale universities and also became the first woman to serve as Fed chair after her Senate confirmation in 2014.

As President-Elect Biden continues to round out his roster of appointees, he has tapped an Obama-era chair of the Federal Reserve to lead his administration's economic policy.

In 2010, she became deputy to former Fed chair Ben Bernanke, overseeing the large monetary support plan to help the United States economy out of the 2008-2010 global financial crisis. Her Fed nomination was approved with bipartisan backing, and she is widely viewed now as a choice that is acceptable to lawmakers of both parties.

Early in Trump's term, she didn't hesitate to warn of the risks tax cuts like the one he was proposing would have on the budget deficit.

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