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The president-elect of the United States, Joe Biden, chose Janet Yellen, who headed the Federal Reserve (Fed), as Secretary of the Treasury. The 74-year-old economist was the first woman to head the Fed and will also be the first woman to head the Treasury.
The appointment was advanced by the newspaper The Wall Street Journal and confirmed by Associated Press.
Ron Klain, who will be Joe Biden’s chief of staff, said Sunday that the president-elect would announce the names of his team on Tuesday. Biden had already hinted at who would go to the Treasury by saying last week that it would please “all elements of the Democratic Party, from progressives to moderates.”
If the election is confirmed, and if the Senate confirms it, Janet Yellen holds the three most important economic positions of the United States Government in her career: she was president of the Council of Economic Consultants of President Bill Clinton between 1997 and 1999 and president of the Federal Reserve between 2014 and 2018 (he was its vice president since 2010).
When her term at the Fed ended, the economist said she was available to remain in office (all three previous presidents were re-elected, regardless of their political color), but Donald Trump decided not to be reappointed.
Yellen is married to George Akerlof, who won the 2001 Nobel Prize in economics, and has published work on unemployment.
