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Biden Nominates Janet Yellen for Treasury Secretary
Posted
December 1, 2020
Views
548
Likes
11
Comments
5
Engagement
2.92%
December 1, 2020
548
11
5
2.92%
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6:17Now PlayingPresident-elect Joe Biden took a significant step this week toward addressing the damage to the U.S. economy inflicted by the coronavirus pandemic, naming an economic team led by his choice for Treasury secretary, former Federal Reserve Chair Janet Yellen.
In Yellen, Biden will have a battle-tested policy maker who can draw on her nearly two decades at the Fed to help rebuild an economy in dire need of government cash and confidence. Biden has called for trillions of dollars in new stimulus to aid the small and mid-size businesses that are the nation’s jobs engine.
“We face great challenges as a country right now,” Yellen said in her first post on Twitter after Biden announced he would nominate her. “To recover, we must restore the American dream — a society where each person can rise to their potential and dream even bigger for their children.”
Yellen’s expected to champion what she’s called “extraordinary fiscal support” to help the pandemic-ridden economy -- deficit spending that she says is affordable given extraordinarily low interest rates.
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