(FILES) In this file photo taken on November 14, 2017 US Federal Reserve chief Janet Yellen smiles as she attends a conference titled "Communications Challenges for Policy Effectiveness" organised by the European Central Bank (ECB) at the ECB headquarters in Frankfurt am Main, western Germany. - President-elect Joe Biden will nominate former Federal Reserve Chair Janet Yellen to head the US Treasury, a financial source with knowledge of the incoming administration's decision said November 23, 2020.
If confirmed by the Senate, the 74-year-old would make history as the first female head of the department, and be tasked with steering the world's largest economy as it struggles with mass layoffs and a sharp growth slowdown caused by the Covid-19 pandemic. (Photo by Daniel ROLAND / AFP)
U.S. President-elect Joe Biden on Monday named former Federal Reserve chair Janet Yellen as his choice for Treasury Secretary.
“Janet Yellen is nominated to serve as Secretary of the Treasury. If confirmed, she will be the first woman to lead the Treasury Department in its 231-year history,” Mr. Biden’s transition team said in a statement.
The 74-year-old previously broke barriers as the first female Fed chief.
“As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis,” Mr. Biden said.
