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  • when it comes to the head of the U.

  • S.

  • Treasury.

  • This is how it started, and this is how it's going.

  • Janet Yellen has made history as the first woman to hold the post.

  • The smartest thing we can do is act big, but it's not the first time she's broken a glass ceiling.

  • She was also the first woman to lead the Federal Reserve, making her a steady choice to join President Joe Biden's Cabinet during one of the most turbulent economic chapters in U.

  • S.

  • History.

  • Few people possess the experience and expertise that Ms Yellen would bring to the Treasury, particularly during this moment of economic crisis.

  • Let's look at her background and where she stands on key policy issues.

  • The daughter of a doctor and teacher, Yellen is a New York native from Brooklyn with a PhD from Yale.

  • She boasts an impressive academic career spanning stints at Harvard and Berkeley, among others.

  • It was while in Washington working for the Fed that she met her husband, Nobel Prize winning economist George Akerlof.

  • It makes sense.

  • Their only child is also an economics professor.

  • Yellen served as the chairwoman of the Federal Reserve between 2014 and 2018, where she helped navigate the U.

  • S recovery from the 2000 and eight financial crisis.

  • Yellen was also deeply involved in some of the most important changes in the Fed's history.

  • She had a hand in establishing the 2% inflation target, and a 2014 speech helped move income inequality to the front burner.

  • Think it's one of the most important issues and one of the most disturbing trends, um, facing the nation at the present time to be effective.

  • Treasury secretaries need good ties with the central bank, and Yellen certainly has that.

  • She's kept in frequent touch with the current chair, Jerome Powell, since she passed on the baton.

  • She also mentor to the influential New York Fed chief on San Francisco's.

  • Her tenure at the Fed also awarded her strong international connections with many of the key financial players in Europe and elsewhere.

  • The A's are 84.

  • The nays are 15 gallon won, an overwhelming confirmation in a strong bipartisan vote less than a week after Biden took office, a quick timeframe by recent standards that's even faster than Secretary Geithner's nomination in 2009 in the tease of the financial crisis.

  • At her hearing, she staunchly defended Biden's proposed stimulus plan and tax hikes.

  • Neither the president elect nor I proposed this release relief package without an appreciation for the country's deaf Britain.

  • The Treasury will try to persuade Congress to introduce measures to foot the bill.

  • But getting everyone onside, maybe a formidable task after Trump's term ran up large deficits.

  • According to Yellen, it's all necessary to avert a longer and more painful recession in the longer, and I believe the benefits will far outweigh the costs, especially if we care about helping people who have been struggling for a very long time.

when it comes to the head of the U.

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B1 yellen treasury financial crisis financial federal reserve janet

Explainer: Janet Yellen's road to U.S. Treasury Secretary

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    林宜悉 posted on 2021/01/28
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