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Yellen’s nomination:

    By Anneken Tappe and Matt Egan | CNN Lawmakers confirmed Janet Yellen as Treasury secretary on Monday, making her the first woman in American history to hold the position. As head of the Treasury, she’ll be tasked with shepherding President Joe Biden’s $1.9 trillion American Rescue Plan through Congress and overseeing its execution. The plan includes $1,400 stimulus checks, expanded unemployment benefits, and increased funding for Covid-19 vaccinations and testing. During her confirmation hearing last week, Yellen defended the size and scope of the plan, saying the first priority of the incoming administration must be to get the nation and its people through the pandemic before addressing other concerns, including America’s ballooning deficit or raising taxes. “Right now, with interest rates at historic lows, the smartest thing we can do is act big,” she told the Senate Finance Committee. She made clear her No. 1 priority would be to provide...
    New York (CNN Business)Lawmakers confirmed Janet Yellen as Treasury secretary on Monday, making her the first woman in American history to hold the position. As head of the Treasury, she'll be tasked with shepherding President Joe Biden's $1.9 trillion American Rescue Plan through Congress and overseeing its execution. The plan includes $1,400 stimulus checks, expanded unemployment benefits, and increased funding for Covid-19 vaccinations and testing.During her confirmation hearing last week, Yellen defended the size and scope of the plan, saying the first priority of the incoming administration must be to get the nation and its people through the pandemic before addressing other concerns, including America's ballooning deficit or raising taxes."Right now, with interest rates at historic lows, the smartest thing we can do is act big," she told the Senate Finance Committee. She made clear her No. 1 priority would be to provide relief for those in the greatest need...
    WASHINGTON -- The Senate Finance Committee approved President Joe Biden's nomination of Janet Yellen to be the nation's 78th Treasury secretary on Friday, and supporters said they hoped to get the full Senate to approve it later in the day, making her the first woman to hold the job.The Finance Committee approved her nomination on a 26-0 vote. The administration is urging a quick confirmation vote, saying it's critical to get the top member of Biden's economic team in place as the Democratic president seeks to win approval of a $1.9 trillion coronavirus relief plan.Sen. Ron Wyden, D-Oregon and the incoming chairman of the Finance Committee, said he hoped to get Yellen's nomination approved by the full Senate later Friday.EMBED More News Videos President-elect Joe Biden's Cabinet picks, top-level appointees (1 of 11) President-elect Joe Biden on Dec. 8 called for urgent action on the coronavirus pandemic as he...
    Four years after Democrats fought a bruising battle to stymie Donald Trump’s nomination of Steven Mnuchin as Treasury Secretary, the Senate finance committee unanimously approved Janet Yellen for the post. Yellen, who served as Federal Reserve chair from 2014 to 2018 and before that was vice chair from 2010 , was approved on a 26-0 vote in the committee Friday morning. Republicans failed to put up resistance to Yellen at the committee level, which many on Capitol Hill expect signals that she will easily be confirmed with a bipartisan vote. That is a stark contrast with Mnuchin’s nomination, which was bitterly opposed by Democrats who delayed a vote on the pick for three weeks. Ultimately, Mnuchin was confirmed on a largely party-line vote, with Sen. Joe Manchin (D-West Virginia) being the only Democrat to vote in favor. Yellen is expected to be the point person on the Biden administration’s economic...
    WASHINGTON (AP) — The Senate Finance Committee approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th Treasury secretary on Friday, and supporters said they hoped to get the full Senate to approve it later in the day, making her the first woman to hold the job. The Finance Committee approved her nomination on a 26-0 vote. The administration is urging a quick confirmation vote, saying it’s critical to get the top member of Biden’s economic team in place as the Democratic president seeks to win approval of a $1.9 trillion coronavirus relief plan. Sen. Ron Wyden, D-Oregon and the incoming chairman of the Finance Committee, said he hoped to get Yellen’s nomination approved by the full Senate later Friday. Republicans on the committee said they had a number of policy disagreements with Yellen and the Biden administration in such areas as raising taxes on corporations and...
    Janet Yellen's history-making move to head the Treasury Department took a key step forward Friday morning after she easily cleared an important Senate vote. Along with the raft of experience she brings with her, the appointment would make Yellen the first woman ever to hold the position. She previously was the first female to lead the Federal Reserve. The upper chamber's finance committee approved of President Joe Biden's move to name Yellen as Treasury secretary, sending the nomination through by a 26-0 vote vote. "We are proud that we have now the first woman to be Treasury secretary of the United States," said Sen. Maria Cantwell (D-Washington). "I really hope that she can lead a new day at Treasury to focus on Main Street issues of the workforce, workforce training, and the important aspects of getting the American economy and getting people back to work." Should she gain confirmation, the...
    Janet Yellen breezed through her confirmation hearing on Tuesday and Joe Biden’s nomination of her to head up the Department of Treasury will likely win approval of the Senate Finance Committee, perhaps as soon as Thursday. So it is worth taking notice of how unusual the nomination of Yellen is and how little her experience matches that of her predecessors. Yellen has plenty of qualifications—they just aren’t the qualifications that usually earn someone the role of Treasury Secretary. In looking turning to Yellen, Biden broke with longstanding precedent. Every Treasury Secretary in modern history has had experience in the private sector or in Treasury Department itself. For most of U.S. history, the role has gone to a businessman and rarely to anyone who was primarily an academic or central banker.  This wasn’t usually considered a role for PhD. economists. Of the last fourteen Treasury Secretaries, only Tim Geithner and Larry...
    By WILL WEISSERT, Associated Press REHOBOTH BEACH, Del. (AP) — President-elect Joe Biden’s choice to be treasury secretary, Janet Yellen, collected more than $7 million in speaking fees in 2019 and 2020 from major financial firms and tech giants including Citi, Goldman Sachs and Google, according to disclosure forms filed as part of her nomination. Yellen’s was one of three financial disclosures filed by Biden transition officials that were made public on Thursday by the Office of Government Ethics. In a separate filing, Yellen listed firms and banks where she had received speaking fees and said she intended to “seek written authorization” from ethics officials to “participate personally and substantially” in matters involving them. Yellen was the Federal Reserve chair from 2014 to 2018. Her term was not renewed by President Donald Trump. Her selection by Biden to lead the Treasury Department has been cheered by progressive Democrats, who support...
    REHOBOTH BEACH, Del. (AP) — President-elect Joe Biden’s choice to be treasury secretary, Janet Yellen, collected more than $7 million in speaking fees in 2019 and 2020 from major financial firms and tech giants including Citi, Goldman Sachs and Google, according to disclosure forms filed as part of her nomination. Yellen’s was one of three financial disclosures filed by Biden transition officials that were made public on Thursday by the Office of Government Ethics. In a separate filing, Yellen listed firms and banks where she had received speaking fees and said she intended to “seek written authorization” from ethics officials to “participate personally and substantially” in matters involving them. Yellen was the Federal Reserve chair from 2014 to 2018. Her term was not renewed by President Donald Trump. Her selection by Biden to lead the Treasury Department has been cheered by progressive Democrats, who support Yellen’s work as a labor...
    Janet Yellen, former chair of the U.S. Federal Reserve.Getty Images Former Federal Reserve Chair Janet Yellen has been nominated by President-elect Joe Biden as his Treasury secretary — a position that would make her, if confirmed by the Senate, a critical figure in U.S. trade negotiations with China. U.S.-China tensions have escalated since President Donald Trump took office in 2017. Actions Trump has taken against China include slapping elevated tariffs on Chinese goods and restricting access to the American market for some Chinese companies. He argued these measures would address what he said were risks to U.S. national security and unfair trade practices by Beijing. Yellen has in the past acknowledged concerns about Chinese industrial practices. Her policy stance on China is less known, but she has supported open trade and the international trading system — an indication that she, like many on Biden's team, would be a moderate voice.VIDEO15:2715:27President-elect...
    Washington — President-elect Joe Biden formally introduced Tuesday the officials who will lead his economic team, which is poised to take the helm of the federal government as the nation grapples with the economic fallout of the coronavirus pandemic.  Joined in Wilmington, Delaware, by each of the six future nominees and appointees as well as Vice President-elect Kamala Harris, Mr. Biden heralded his new team as "ground-breaking Americans who come from different backgrounds, but share my core vision for economic relief." "A first-rate team that's going to get us through this ongoing economic crisis and help us build the economy back, not just build it back, but build it back better than before," he said. Get Breaking News Delivered to Your Inbox Mr. Biden said his economic advisers will play a critical role in shaping a package he intends to introduce in the next Congress that will address the...
    By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) — President-elect Joe Biden said Thursday that he has decided whom to nominate as his secretary of the Treasury Department. Biden said that the announcement will come just before or after Thanksgiving and that “you’ll find it is someone who I think will be accepted by all elements of the Democratic Party, progressives through the moderate coalition.” The leading candidates are thought to be former Federal Reserve Chair Janet Yellen and Federal Reserve Governor Lael Brainard. Either would be the first woman to serve as treasury secretary. Yellen's name has surfaced more frequently in recent days as the potential nominee. Yellen was also the first woman to chair the Fed, a position she held for four years. Also mentioned as possible candidates are former Fed vice chair Roger Ferguson and Raphael Bostic, the president of the Federal Reserve Bank of Atlanta. Both...
    WASHINGTON – President-elect Joe Biden said Thursday that he has decided whom to nominate as his secretary of the Treasury Department. Biden said that the announcement will come just before or after Thanksgiving and that “you’ll find it is someone who I think will be accepted by all elements of the Democratic Party, progressives through the moderate coalition.” The leading candidates are thought to be former Federal Reserve Chair Janet Yellen and Federal Reserve Governor Lael Brainard. Either would be the first woman to serve as treasury secretary. Yellen's name has surfaced more frequently in recent days as the potential nominee. Yellen was also the first woman to chair the Fed, a position she held for four years. Also mentioned as possible candidates are former Fed vice chair Roger Ferguson and Raphael Bostic, the president of the Federal Reserve Bank of Atlanta. Both Bostic and Ferguson are Black, and...
    WASHINGTON (AP) — President-elect Joe Biden said Thursday that he has decided whom to nominate as his secretary of the Treasury Department. Biden said that the announcement will come just before or after Thanksgiving and that “you’ll find it is someone who I think will be accepted by all elements of the Democratic Party, progressives through the moderate coalition.” The leading candidates are thought to be former Federal Reserve Chair Janet Yellen and Federal Reserve Governor Lael Brainard. Either would be the first woman to serve as treasury secretary. Yellen’s name has surfaced more frequently in recent days as the potential nominee. Yellen was also the first woman to chair the Fed, a position she held for four years. Also mentioned as possible candidates are former Fed vice chair Roger Ferguson and Raphael Bostic, the president of the Federal Reserve Bank of Atlanta. Both Bostic and Ferguson are Black,...
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