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US Senate votes overwhelmingly to confirm Yellen as first female Treasury chief

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Janet Yellen won overwhelming Senate confirmation as the first woman to lead the U.S. Treasury on Monday, setting her quickly to work with Congress on coronavirus relief, reviewing U.S. sanctions policy, and strengthening financial regulation. | Reuters

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German Finance Minister Olaf Scholz congratulated Yellen and voiced hope that she could help lead progress on reaching an international agreement on digital taxation. He told Reuters: “Janet Yellen is a very impressive person.” Yellen told senators at her confirmation hearing last week that they needed to raise the minimum wage and “act big” on stimulus measures or risk a longer, more painful recession brought on by the pandemic.Yellen also said during her confirmation hearing that she would conduct an immediate review of U.S. financial sanctions policy administered by Treasury to ensure that they were used “strategically and appropriately” after a major ramp-up of such measures under the Trump administration.

 

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