Biden to name Janet Yellen as US treasury secretary

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Yellen was an economic adviser to Biden’s campaign…reports Asian Lite News

US President-elect Joe Biden plans to nominate former chief of the Federal Reserve Janet Yellen as America’s next Treasury secretary, according to a news break by The Wall Street Journal.

If confirmed, Yellen would become the first woman to lead the Treasury, the central bank and the White House Council of Economic Advisers. She was the first woman to lead the Federal Reserve.

Yellen, 74, is an expert on unemployment and will wade into a tanking economy with a still-elevated national unemployment rate of 6.9 per cent during the coronavirus pandemic.

Yellen was an economic adviser to Biden’s campaign.

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