Biden Picks Janet Yellen As Treasury Secretary: Report

US President-elect Joe Biden is expected to nominate Janet Yellen, the former federal reserve chair, as treasury secretary in his Cabinet, according to the Wall Street Journal Monday.

Yellen, 74, would be the first woman to assume the position if confirmed by the Senate.

She was also the first woman to chair the Federal Reserve (Fed) and the White House Council of Economic Advisers.

The labor economist will lead the Biden administration's efforts to recover the economy after it was paralyzed by the global coronavirus pandemic.

Yellen was confirmed as Fed chair by the Senate in 2014 with a 56-26 vote. After serving a four-year term, she was not re-nominated by US President Donald Trump.

The report came hours after Biden announced several key picks for foreign policy and national security.

Biden named Antony Blinken as secretary of state, Alejandro Mayorkas as secretary of Homeland Security (DHS) and Avril Haines as director of National Intelligence.

While Linda Thomas-Greenfield is set to be the new US ambassador to the UN, Jake Sullivan is nominated as a national security advisor and John Kerry was picked for special presidential envoy for climate position. -