Yellen Shows Dollar Shift, China Toughness, Change on Climate
- Former Fed chief says debt-interest burden isn’t a problem now
- Yellen uses tough language on China, accuses country of theft
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The U.S. under Joe Biden is adjusting its dollar policy, giving no sign of an immediate shift on China strategy and putting a new focus on climate change. Those are some of the takeaways from Tuesday’s Senate confirmation hearing for the president-elect’s Treasury secretary pick, Janet Yellen.
The three-hour Senate Finance Committee hearing also provided a potential timeline for Yellen’s confirmation. Democratic Senator Ron Wyden, the panel’s incoming chairman, unveiled a scheduling agreement that he said could see a vote on Yellen on the Senate floor on Thursday. That would put her in line to be among Biden’s first nominees to take office.