US: Biden Confirms Yellen As Treasury Secretary Nominee

US President-elect Joe Biden on Monday confirmed former Federal Reserve Chair Janet Yellen to become his nominee for treasury secretary.

If confirmed by the Senate, Yellen would be the first woman to head the Treasury Department in its 231-year history. She was also the first woman to chair the central bank from February 2014-2018.

Yellen, 74, is close to becoming the first American to serve in a lifetime as Treasury Secretary, Chair of the Council of Economic Advisers (CEA) and the Fed Chair. The Senate confirmed her on four separate occasions.

The president-elect also announced his economic team, which is mostly composed of female professionals.

Wally Adeyemo, 38, an African-American, would become Deputy Secretary of Treasury if confirmed. He served as Deputy National Security Advisor for International Economics and Deputy Director of the National Economic Council from 2015 to 2016 under the former President Barack Obama.

The President-elect nominated Neera Tanden to become director of the White House Office of Management and Budget. Tanden, 50, is the President of the liberal Washington-based think-tank Center for American Progress. If Tanden is confirmed, she will become the first South Asian American to lead this office.

Cecilia Rouse, 56, was nominated to chair the White House CEA, as she is currently the Dean of the Princeton School of Public and International Affairs. If confirmed, she will become the first African-American and the fourth woman to lead the CEA in its 74 years.

Biden also wants Jared Bernstein and Heather Boushey as members of the CEA. Bernstein, 65, was chief economist and economic adviser to then-Vice President Biden in the Obama administration between 2009-2011.

Boushey, 50, is the president and CEO of think-tank Washington Center for Equitable Growth. -