Story at a glance

  • Yellen, 74, would be the first woman ever to serve as head of the Department of Treasury.
  • She became the first woman to lead the Federal Reserve after she was appointed chair by President Obama in 2014.
  • If confirmed, she’ll be the first person to have led the Treasury, the central bank and the White House Council of Economic Advisers.

President-elect Joe Biden is expected to nominate former Federal Reserve chairwoman Janet L. Yellen to serve as Treasury secretary in his administration, according to a report from The Wall Street Journal

Yellen, 74, would be the first woman to serve as head of the Department of Treasury in U.S. history. 


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She became the first woman to lead the Federal Reserve after she was appointed chair by President Obama in 2014. If she’s confirmed to be the next Treasury secretary, she’ll be the first person to have led the Treasury, the central bank and the White House Council of Economic Advisers, The Wall Street Journal reports. 

Yellen earned a doctorate in economics from Yale and has taught economics at the University of California, Berkeley, as well as Harvard University and the London School of Economics. 

The move underscores the incoming Biden administration’s commitment to a diverse Cabinet. 

On Monday, Biden’s transition team announced plans to tap Avril Haines for director of national intelligence and Alejandro Mayorkas to serve as Homeland Security secretary. 

If confirmed, Haines would be the highest-ranking woman to serve in the intelligence community and Mayorkas would be the first Latino immigrant to head the department charged with managing the country’s immigration policies. 

Biden will formally announce the nominations Tuesday during a virtual event in Wilmington, Del.


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Published on Nov 23, 2020