Biden chooses Yellen for Treasury secretary role
Print Edition
President-elect Joe Biden on Monday confirmed he will nominate former Federal Reserve chair Janet Yellen to lead the Treasury, topping a slate of economic officials who would break racial and gender barriers in the US government.
The rollout of Biden鈥檚 economic team comes after running mate Kamala Harris made history as the first woman, first black person and first person of South Asian descent to win the vice presidency.
If they win Senate approval, Yellen would be the first female Treasury secretary, and would be joined in the executive branch by the first African Americans to serve as her deputy and as head of the White House economic council, as well as the first South Asian in a key budget role.
鈥淲e face great challenges as a country right now. To recover, we must restore the American dream 鈥 a society where each person can rise to their potential and dream even bigger for their children,鈥 Yellen tweeted following the announcement. 鈥淎s Treasury Secretary, I will work every day towards rebuilding that dream for all.鈥
Job number one for the 74-year-old, who made history as the first female Federal Reserve chief from 2014 to 2018, will be helping the US economy recover from the sharp downturn and mass layoffs caused by the coronavirus pandemic.
Unless lawmakers are overcome their differences in the closing weeks of the year, she will likely be tasked with convincing Democrats and Republicans to pass another spending bill to power a recovery amid a months-long deadlock on new aid.
鈥淎s we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever,鈥 Biden said in a statement announcing his appointments.
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