- President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as Treasury secretary.
- If confirmed by the Senate, Yellen would be the first woman to lead the department.
- Yellen was the first woman to serve as Federal Reserve’s chair after her Senate confirmation in 2014.
“Janet is a big name, with significant experience highlighted by her time at The Fed,” wrote Alli McCartney, managing director at UBS.
“I am not surprised markets are reacting favorably as this choice is reassuring, especially with the challenges that lie ahead including avoiding a double dip recession and getting people back to work amidst rising virus cases.”
Gary Cohn, Trump’s former National Economic Council director, offered congratulations to Yellen shortly after the news broke.
“Janet Yellen is an excellent choice for Treasury Secretary. Having had the opportunity to work with then-Chair Yellen, 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,” he wrote on Twitter.
Reference: CNBC
Thai
Eng