Yellen brings history of policymaking, bipartisan support to Treasury
In selecting former Federal Reserve Chair Janet Yellen to head the Treasury Department, President-elect Joe Biden followed through on his campaign pledge to break precedent and build a diverse executive branch. If approved by the Senate, Yellen, 74, would be the first woman to hold the Cabinet-level position of secretary of the Treasury in the agency’s 100-year history.
The speculation over whom Biden would choose to lead the Treasury Department had been particularly intense after he said he would choose a history-making appointee — leading many to speculate that he would choose either a Black or a female nominee to be the Treasury’s 78th chair.
If confirmed, this will not be Yellen’s first time breaking the glass ceiling at the highest level of economic policymaking. Yellen was the first woman to chair the Fed when she succeeded Ben Bernanke in 2014, after having served as vice chair since 2010. During her four-year tenure at the Fed, Yellen supported the economic recovery through accommodative monetary policy and backing low interest rate
Yellen’s appointment requires Senate confirmation. 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. Following the announcement Monday afternoon, Gary Cohn, President Donald Trump's first National Economic Council director, tweeted his support of Yellen, calling her “an excellent choice” and saying, “I have no doubt she will be the steady hand we need to promote an economy that works for everyone, especially during these difficult times.”
https://www.msn.com/en-us/news/politics/yellen-brings-history-of-policymaking-bipartisan-support-to-treasury/ar-BB1bid3Y?li=BBnb7Kz
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