WASHINGTON: US President-elect Joe Biden is expected to tap former Federal Reserve Chair Janet Yellen as US Treasury Secretary, putting a woman in the job for the first time, according to two Democratic allies.
Earlier on Monday, Biden tapped veteran diplomat Antony Blinken as his new Secretary of State and named other members of his national security team. Yellen was chosen over two other seasoned economic policymakers, including current Fed Board of Governors member Lael Brainard, 58, who served as the Treasury's undersecretary for international affairs early in the Obama administration. Also under consideration was former Fed governor Roger Ferguson, 69, who recently announced his retirement as chairman of pension fund TIAA.
Massachusetts Senator Elizabeth Warren, a rival to Biden for the Democratic nomination for president and also considered a possibility for the Treasury post, tweeted that Yellen would be"an outstanding choice' and praised her for having 'stood up to Wall Street banks" as Fed chair.
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