President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as Treasury secretary, a historic decision that could result in the nation’s first woman to lead the department, The Wall Street Journal reported Monday, citing people familiar with the matter.
Yellen, 74, is widely seen as a politically “safe” pick for the role, likely to garner support from Senate Republicans as someone capable of pursing bipartisan compromise during an otherwise fragile time for the economy.
A graduate of Brown and Yale universities, Yellen was also the first woman to serve as Fed chair after her Senate confirmation in 2014. Her four-year tenure at the helm of the Fed, marked by an improving jobs market and historically low interest rates, may also boost her odds for confirmation.
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