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Biden’s team received a “handover” notification! New Cabinet Layout: Former Fed Chairman Yellen Appointed New Treasurer
According to the latest US media reports, Murphy, the Secretary of the General Services Administration (GSA) appointed by the Trump administration, sent a letter to Biden on the night of the 23rd, indicating that the Trump administration is ready to begin. to handle the official government handover and become part of the Biden team. Able to obtain the necessary resources from the federal government.
Murphy noted in the letter that the White House did not pressure her to postpone the transition to formal handover: “I have never been pressured directly or indirectly by any government official, and I have not been ordered to postpone a decision.”
This letter was seen as a sign that Trump admitted that he lost the election, and was also seen as Murphy’s recognition of Biden’s victory, marking the official start of the presidential election transition process. Though as of a China Business News reporter release, Trump has not admitted defeat.
After the US media made Murphy’s letter public, Trump tweeted thanking Murphy for his work and confirmed that relevant government departments have started transition work, but also said related lawsuits will continue.
“I want to thank GSA’s Murphy for his unwavering dedication and loyalty to our country. Our case (litigation) will continue resolutely and we will have a good fight. I think we will win!” Trump said in a tweet. “However, in the best interest of our country, I suggest that Murphy and his team start doing some necessary preliminary steps, and I also told my team to do so.”
At the same time, “they are all household names, no surprises.” The US media described Biden’s next cabinet list on the 23rd. Biden plans to announce the list of his cabinet members on the 24th, but the US media “preemptively” released his list. Among them, he will nominate his long-term adviser, Antony Blinken, as US Secretary of State and Jake Sullivan. She served as White House National Security Advisor, Greenfield (Linda Thomas-Greenfield) as UN Ambassador, Alejandro Mayorkas as Secretary of Homeland Security, Avril Haines as Director of National Intelligence and former Secretary of State Kerry as President. Special Envoy on Climate Change.
Wall Street is happy to see Yellen make history again
It should be noted thatThe US media also revealed that on the same day, Biden will appoint former Fed Chairman Yellen as the new Secretary of the Treasury.
If approved by the Senate next year, Yellen will become the first woman in US history to serve as Secretary of the Treasury. In 2014, Yellen won cross-party support to become the first Fed chairman in American history. Prior to this, Yellen served as chairman of the former President Clinton’s White House Council of Economic Advisers.
Yellen’s nomination is seen as a victory for Wall Street, because the nomination of the former Federal Reserve chairman is widely interpreted as the Biden administration’s primary task of promoting the recovery of the US economy. Previously, investors were concerned that Biden would nominate a member of the Democratic Party’s left-wing economic platform to act as Secretary of the Treasury to “punish the major Wall Street banks.”
“A potentially negative message for the banking industry is that the designated finance minister is a banking hawk,” said Barry Knapp, director of research at Ironsides Macroeconomics, an investment agency. “This also shows goodbye. Den will definitely not commit to the left. She (Yellen) is a rigorous economic thinker, and Biden’s cabinet will deal with a very dire economic situation.”
“The Treasury Department under Yellen’s leadership will use America’s ‘fiscal ammunition’ to restore America to a state where all people return to work,” said Joe Brusuelas, chief economist at RSM US, a consulting firm. American. It is the right choice because it can speak to the entire economic system. “
Previously, there were voices in the Democratic Party who expected Biden to nominate Senator Elizabeth Warren of Massachusetts as Secretary of the Treasury. Warren is known for advocating strengthening oversight of Wall Street and big business.
Analysts noted that the reason Biden and the Democrats did not nominate Warren was because they did not want to lose a Senate seat, because if Warren was nominated, the Republican Governor of Massachusetts, Barker, could nominate someone he approved to replace Warren. Furthermore, it is also considered unlikely that Warren’s ultra-left political views will be confirmed by the GOP nomination in the Senate.
But Yellen is different, unlikely to face opposition from the Republican Party, because his previous appointment as Fed chairman was successfully passed in the Republican-led Congress. “Yellen’s nomination is safe (via nomination), but Warren doesn’t have it,” said Greg Valliere, chief economist at investment company AGF Investment.
Will the new secretary of state return America to a more traditional diplomacy?
Among all the members of the cabinet, the new Secretary of State Blincoln was the first candidate to be nominated by Biden. Although there is no set order for cabinet members, it is considered the secretary of state’s first announcement that Biden will put foreign policy at the center.
The US media described Brinken as “one of Biden’s closest and oldest diplomatic advisers.” Brinken used to serve as undersecretary of state and deputy national security adviser in the Obama administration. It is considered to have a “huge global network” and is believed to lead the United States to join international multilateral agreements such as the Paris Agreement and the Iran Nuclear Agreement.
It’s worth noting that, like the other nominated Cabinet members announced on the same day, Brinken has the experience of serving as a senior official in former President Obama’s administration and working with Biden. They are all insiders who have been active in the Democratic political circle for many years. All of them are considered “mainstreamers” of the Democratic Party.
Biden said he will form a “diversified” cabinet that can represent the entire United States, made up of competent experts in public policy and experienced government work.
“What I need is a team that has been prepared from day one in office to help me regain America’s position at the negotiating table and unite the world to face the greatest challenge we face.” Biden noted in the statement: “They are here. The achievements in the field of diplomacy are unmatched, but it also reflects the idea that we cannot use old thoughts and habits or reasons without antecedents to meet the challenges of the new age. We need diversity. , that’s why I choose them. “
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