Biden chooses Janet Yellen to take over the US Treasury.

Washington: US President-elect Joe Biden on Monday chose former Federal Reserve Chief Janet Yellen to take over the Treasury.

“Janet Yellen has been chosen to take over the Treasury Department. If the appointment is approved, she will be the first woman to serve in the Treasury Department in its 231-year history,” Biden’s transition team said in a statement.

Yilin, 74, broke barriers by appointing the first woman to head the Federal Reserve. He will be tasked with reviving the American economy, depleted by the repercussions of the new Corona virus, if the Senate approves his name.

Biden announced last week the selection of other personalities from the economic team to lead him when he takes office in late January.

Biden said in a statement, “As we make efforts to control the virus, this team will provide the necessary financial assistance to the American people during this economic crisis and help us rebuild our future better than ever.”

The United States recorded a sharp drop in growth, with tens of millions of jobs lost, at a time when it was making strenuous efforts to control an increase in the number of HIV infections in the country hardest hit by the Covid pandemic. 19.

A massive stimulus package earlier this year eased the consequences of a recession, but Yellen will likely be costly to break the deadlock in Congress on approving extra aid that analysts say is necessary to avoid further economic difficulties.

Biden also announced the selection of Nera Tanden, president of the American Progress Center for Research, to head the Office of Management and Budget.

Wali Adiyimo, who was born in Nigeria and was the deputy national security adviser, was elected as deputy Treasury minister, according to the statement.