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President-elect Joe Biden is considering former Federal Reserve Chair Janet Yellen as his potential Treasury secretary, according to a Bloomberg report.

The Bloomberg report stated that Yellen recently backed away from a speaking engagement due to her consideration for the role, according to individuals familiar with the situation.

Yellen is reportedly joining a shortlist that includes Federal Reserve Governor Lael Brainard and former Federal Reserve Vice Chair Roger Ferguson.

If nominated and confirmed, Yellen would become the first female Treasury secretary in US history. In February 2014, she made history in becoming the nation’s first female Chair of the Federal Reserve, replacing outgoing Chair Ben Bernanke.

She served as Chair of the Federal Reserve until February 2018, when she was replaced by Trump appointee Jerome Powell. Yellen decided to step down from the Federal Reserve Board once her chairmanship was over.

Biden has already launched his transition team and has named veteran Democratic aide Ron Klain as his future White House Chief of Staff.

On November 13, CNN reported that Biden was spending that day and the immediate weekend considering potential Cabinet nominees, with aides saying that no major announcements were in the pipeline in the short-term.

For months, Yellen …read more

Source:: Businessinsider – Politics


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