Yellen Takes Charge at Treasury With Economic Rebound Weakening
- Ex-Fed chair takes reins as global pandemic batters economy
- Initial tasks include selling stimulus package, filling staff
Janet Yellen
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Janet Yellen won confirmation to become U.S. Treasury secretary, building out President Joe Biden’s team as the administration struggles to win bipartisan support for a $1.9 trillion Covid-19 relief plan for shoring up a weakening economic recovery.
The first woman to serve in the post, Yellen will take charge of a department with responsibilities spanning tax policy and government spending to financial stability, economic sanctions and foreign-exchange policy. She’ll also oversee ties with the Federal Reserve, which she previously chaired. She was confirmed by the Senate 84-15 Monday evening.