Economy On the Hill Politics

Biden Announces Janet Yellen as First Female Head of Treasury Department

On Monday, President-elect Joe Biden announced Janet Yellen as his nominee for Secretary of the Treasury, the first woman to hold the position in the history of the country if confirmed.

Ms. Yellen is a labor market expert and is widely considered a strong feminist. She has spoken publicly of her support for economic policies that help families and that would, in turn, boost the economy.

She supports government-financed support during the pandemic, which millions of Americans are in desperate need of as more unemployment benefits are set to expire with no economic stimulus bill in sight. She will be instrumental in helping to broker a COVID-19 economic relief deal with Republican legislators.

Yellen previously served as the first female chair of the Federal Reserve, and was the first woman to run the White House Council of Economic Advisors under the Clinton administration. She was president of the Federal Reserve Bank of San Francisco, a Fed governor, Fed vice chair, and previously taught at University of California, Berkeley. She will be one of the most experienced economic policy advisors to hold the position.

Sources: CNN 11/23/20; Huffington Post 11/23/20; NYT 11/23/20

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