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The next president of the United States, Byden, plans to appoint Janet Yellen, former president of the Federal Reserve Board (FRB), as secretary of the Treasury. Several people familiar with the matter have revealed. The first woman Secretary of the Treasury, who has extensive experience in the Central Bank, will be the head of economic policy in the United States.
Yelen’s appointment is likely to win support from both Wall Street and progressives. The financial industry hires tough people in the industry, like Sen. Elizabeth Warren.Be cautious. A progressive worried that candidates too friendly to the big banks and the rich would be chosen.
Janet yellen
After taking office after Senate approval, Yeren, 74, will be in charge of running the US economy as the new coronavirus infection reappears. The most urgent task is to break the deadlock in Congress to implement economic measures as employment deteriorates.
Camp Byden’s transition team declined to comment.
Investors seem to be welcoming. After it was reported that Mr. Byden would be hiring Mr. Yeren, the S&P 500 stock index rose just under 1%.
Tech stocks have doubled during Yelen’s tenure as FRB chairman, despite a rate hike for the first time in 11 years.
Gary Korn, chairman of the Council of the American House of Economics (NEC) under the Trump administration, said Yeren “has the leadership necessary to promote an economy that benefits everyone, especially during these difficult times. I am surecheepdid.
Most investors are likely to be confident that Yelen is backing additional emergency spending from the government. Yellen told Bloomberg Television on October 19 that the Corona “pandemic” still needs to continue its extraordinary financial support while it has a serious impact on the economy, but ever since. I think we will need it too. “
Wells Fargo’s Mike Mayo discusses what a date with Yellen could mean for the banking industry.
Markets: the close. “(Source: Bloomberg)
The Wall Street Journal (WSJ) previously reported on the appointment of Mr. Yeren.
Original title:Biden plans to nominate Janet Yellen for Secretary of the Treasury （抜 粋）
(Update by adding stock prices, Gary Korn tweets, etc.)
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