Biden Will Nominate Janet Yellen as Secretary of Treasury

by James DiGeorgia | 11/27/2020 4:53 PM

Janet Yellen

Janet Yellen is an economist who has been at the forefront of economic policy-making for three decades and now is on the verge of becoming the first woman to become Treasury Secretary.

President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as Treasury secretary. To lead his administration’s efforts to deliver an economic recovery from the destruction caused by the coronavirus pandemic, threatening to become an economic recession but the first economic depression since the 1930s.

Ms. Yellen, who was the first woman to lead the Fed, would become the first person to have headed the Treasury, the central bank, and the White House Council of Economic Advisers.

Yellen, 74, a graduate of Brown and Yale universities, is seen as a politically “safe” pick for the role, likely to support Senate Republicans as someone capable of pursuing bipartisan compromise during an otherwise fragile time for the economy.