Biden names Janet Yellen to be Treasury Secretary -NHK WORLD-JAPAN 27 min ago
US President-elect Joe Biden has named former Federal Reserve Chair Janet Yellen as his nominee for Treasury Secretary.
US President-elect Joe Biden has named former Federal Reserve Chair Janet Yellen as his nominee for Treasury Secretary.
Biden announced top members of his economic policy team on Monday.
If confirmed, the 74-year-old economist would be the first woman to lead the Treasury Department in its 231-year history.
Biden's pick of Yellen is seen as a reflection of his focus on improving the country's employment situation. She was praised for implementing financial policies with employment in mind when serving as Fed Chair.
Yellen tweeted, "To recover , we must restore the American dream--a society where each person can rise to their potential and dream even bigger for their children."
Biden also said he would nominate Neera Tanden to serve as the director of the Office of Management and Budget, and Cecilia Rouse to chair the Council of Economic Advisers.
The number of unemployed Americans topped 11 million amid the coronavirus pandemic.
A Biden administration will likely face daunting challenges in trying to improve the job situation and restart the economy .
