Report: Biden to name Janet Yellen as treasury secretary

The 74-year-old Yellen, who was born to a Jewish family, would be the first woman to lead the Treasury Department.

Ben Ariel ,

Janet Yellen
Janet Yellen
Reuters

US President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a person familiar with the transition plans told The Associated Press on Monday.

The 74-year-old Yellen, who was born to a Jewish family, would be the first woman to lead the Treasury Department in a line stretching back to Alexander Hamilton in 1789.

Her nomination was confirmed to AP by a person who spoke on condition of anonymity to discuss Biden’s plans.

Yellen was also the first woman to serve as Fed chair, from 2014 to 2018. She later became an adviser to Biden’s presidential campaign.

Before leading the Fed, Yellen was its vice chair for four years and previously was president of the Federal Reserve Bank of San Francisco for six years. Earlier, under President Bill Clinton, she led the president’s Council of Economic Advisers, after serving a stint on the Fed’s board.

Earlier on Monday, Biden’s transition team announced a number of appointments to senior foreign policy positions, including that of Tony Blinken who will serve as the Biden Administration's Secretary of State.

Blinken has been a key adviser to Biden on foreign policy and was a key figure in the Obama Administration. He was opposed to the plan to apply Israeli sovereignty in Judea and Samaria, but has stated that Biden would not punish Israel for such a move by withholding aid.



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