"Yellen Appointed as First Treasury Secretary of Biden Administration"

WSJ Reports... First Female Treasury Secretary Expected to Be Appointed

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Baek Jong-min] Former Federal Reserve (Fed) Chair Janet Yellen has been unanimously reported by U.S. media on the 23rd (local time) as being selected as the next Treasury Secretary for Joe Biden's incoming administration.

If former Chair Yellen passes Senate confirmation and takes office, she will become the first female U.S. Treasury Secretary in history.

Yellen was appointed as the first female Fed Chair by then-President Barack Obama in February 2014 but failed to secure reappointment when President Donald Trump took office.

Earlier, President-elect Biden had already selected a candidate for Treasury Secretary, describing the choice as someone satisfactory to both moderate and progressive factions within the Democratic Party.

Bloomberg News also reported that Lael Brainard, a Fed Governor who was also mentioned as a candidate for Treasury Secretary, was advised by Biden's close aides to remain longer at the Fed.

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