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The news is advanced by the Associated Press (AP), which confirmed the information with a source, who requested anonymity, familiar with the process of electing the members of Biden’s team for the next four years.
Yellen, who is an admired figure in the financial world, will be the first woman to head the Treasury Department.
As Secretary of the Treasury, Yellen will begin the Biden administration’s first four-year term with the US economy weakened by the pandemic.
Skyrocketing unemployment, the replacement of mandatory lockdown measures in several US cities to mitigate the spread of SARS-CoV-2, and uncertainty dominating markets are obstacles Yellen will face. since the end of January.
Janet Yellen, 74, who was also the first woman to head the Fed (2014-2018), was one of the presidential advisers to Biden’s candidacy.
Among the functions of the future Secretary of the Treasury will be the negotiation of the economic policy of the United States with Senator Mitch McConnel, Republican-elect of Kentucky, who will continue to be the leader of the Republican majority in the Senate.
Also today, Biden will have chosen Antony Blinken to lead US diplomacy and John Kerry, a senator-elect from Massachusetts and former presidential candidate, to lead the fight against climate change.
Alejandro Mayorkas is going to be the next Secretary of National Security, he already served as undersecretary in this portfolio between 2013 and 2016, in the Obama administration.
Joe Biden is therefore making great strides in the constitution of the next administration, despite the fact that the current president of the United States, Republican Donald Trump, still does not admit defeat in the presidential elections of November 3 and treats all the cost of challenging the results and reversing the most prominent states.
The president-elect is going to constitute the team without power, however, accessing federal funds to start putting the strategy that he outlined, such as the ‘working group’ to combat covid-19, since Trump and the current administration are blocking the power transition process.
