Biden Elects Former Fed Chair as Treasury Secretary
The president-elect of the United States, Joe Biden, has chosen the former president of the Federal Reserve, Janet Yellen, as the person who will lead the Secretary of the Treasury. If the decision is ratified, Yellen would be the first woman to hold the position. Besides, she was the first woman to lead the US central bank.
Yellen, who was in charge of the Fed between 2014 and 2018, already knows what it is to be in contact with the government’s economic policy. Between 1997 and 1999, she led the Council of Economic Advisers advising the presidency of Bill Clinton.
However, in the 21st century, Yellen has developed her professional career more closely linked to monetary policy. Between 2004 and 2010, she presided over the San Francisco Federal Reserve. Then she returned to the Fed’s Board of Governors. She remained there until her term ended. Following that, Jerome Powell replaced her.
Yellen’s election received a welcoming from both parties in the Houses. Both for her expertise in monetary policy and the recent call for the country’s economic leaders to address issues related to climate change.
Biden chooses the first Latino to head the Department of Homeland Security
Biden plans to appoint Alejandro Mayorkas. He headed the US Citizenship and Immigration Services agency in the Obama administration, to lead the Department of Homeland Security. That will make him the first Latino to head a department charged with enforcing the country’s immigration laws.
Besides, the president-elect chose Avril Haines to be Director of National Intelligence. She is tasked with overseeing more than a dozen federal offices from the CIA to the National Security Agency. If confirmed, she would be the first woman to hold the position of the director of national intelligence. It was created in the wake of the terrorist attacks of September 11, 2001.
Meanwhile, former Secretary of State John Kerry will return to government as climate czar in the Biden administration. It indicates the importance the new administration will give to an issue that President Donald Trump largely dismissed. Trump said that the Paris Climate Accord largely undermined American competitiveness.
Bloomberg broke the news Sunday that Biden’s former adviser, Antony Blinken, will be appointed Secretary of state. Meanwhile, Jake Sullivan will serve as a national security adviser.
From Iran to China, Biden’s team’s task will be addressing the president-elect’s priorities at critical points that have changed dramatically in the four years of Trump’s term.
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