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Janet Yellen as Treasury Secretary Sets Up Biden to Go Big on Stimulus

  • Ex-Fed chair seen working closely with Powell to help economy
  • Yellen has pushed for additional fiscal spending amid pandemic
Bloomberg business news
How Do Markets Price Yellen?

President-elect Joe Biden’s selection of Janet Yellen as Treasury secretary signals that he plans to act aggressively to revive the world’s biggest economy, putting a former Federal Reserve chair who’s not shied away from stimulus at the helm of his economic policy.

With Yellen in charge, Biden’s Treasury department will be prepared to join Fed Chairman Jerome Powell’s policy of lower-for-longer interest rates with extended, expansionary government spending.