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Biden Taps Former Fed Chair Janet Yellen To Lead Treasury Department

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Biden Taps Former Fed Chair Janet Yellen To Lead Treasury Department

President-elect Joe Biden is to select Janet Yellen, the former Federal Reserve chair, as the first female Treasury Secretary in the history of the United States, according to CBS News.

What Happened: Reports that Biden is considering Yellen for the position have been circulating for weeks.

According to sources quoted by CBS News, Biden is expected to name Cecilia Rouse to lead the White House Council of Economic Advisers.

Yellen was the first female Fed chair in February 2014, appointed by former President Barack Obama.

Why It Matters: Biden’s plan is to create a diverse cabinet. If both Yellen and Rouse are appointed, they would make history.

Yellen would be the first woman to serve as treasury secretary and Rouse would be the first woman of color to chair the Council of Economic Advisers.

Related Link: Yellen Reportedly In Line To Become First Female Treasury Secretary

Benzinga file photo by Dustin Blitchok. 

 

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