Eminent economist Janet Yellen will take on the role of the Treasure Secretary of the United States -- becoming the first woman to hold the position, the United States Senate confirmed on Monday.
Yellen, 74, was confirmed by the Senate in broad bipartisan support of 84-15 votes.
Eminent economist Janet Yellen will take on the role of the Treasure Secretary of the United States -- becoming the first woman to hold the position, the United States Senate confirmed on Monday.
The Senate confirmed Yellen's appointed in strong bipartisan support of 84-15 votes. The 74-year-old former chair of the Federal Reserve is expected to be sworn in soon. She is the third cabinet member of the Biden Administration to be confirmed by the Senate. The other two being Director of National Intelligence Avril Haines and Defense Secretary Lloyd Austin.
Both the Democratic and the Republican parties have 50 members in the 100-seat Senate. Vice President Kamala Harris, who is the chairman of the upper chambers of the Congress in her official capacity, tilts the balance in favour of the Democrats.
The nominee for the US Secretary of State, Tony Blinken, is expected to be confirmed by the Senate soon.
바카라The bipartisan support for Ms Yellen바카라s multiple nominations reflect her breathtaking range of experience and just how well suited she is to manage the economic challenges of our time,바카라 Majority Leader Chuck Schumer said on the Senate floor on Monday.
A graduate of Brown and Yale, Yellen has taught economics at some of the world바카라s most prestigious universities. She is best known for her tenure as Chair of the Federal Reserve, overseeing a period of falling unemployment and steady economic recovery from the global financial crisis.
바카라Few people possess the experience and expertise that Janet Yellen would bring to the Treasury, particularly during this moment of economic crisis,바카라 Schumer said.
Republican Senator Marco Rubio appreciated Yellen바카라s prior government service and her willingness to continue that service in the Biden Administration.
바카라However, her failure to commit to continuing efforts to address the Chinese Communist Party바카라s exploitation of US capital markets, especially as Wall Street increases the flow of American capital to malicious Chinese companies, is disturbing,바카라 he said.
바카라Future US policy must prioritise the interests of American workers, service members, mom-and-pop investors, and retirees over Beijing and lucrative fees for Wall Street,바카라 said Rubio who opposed her nomination.
Rubio and few other Republican Senators including Ben Sasse, Tom Cotton, and Mitt Romney wrote a letter to Yellen expressing concern for her assessment of risks to national security posed by the financial and technological interdependence between the US and China.
바카라As a key adviser to President Biden on national security issues that involve the most powerful and sophisticated tools of economic statecraft, it is critical that you demonstrate to Congress that your decisions will be informed by a clear-eyed view of the threats posed by the Chinese Communist Party (CCP) to the United States,바카라 the senators wrote.
바카라It is equally imperative that all nominees to the Treasury Department follow your leadership in this regard,바카라 they said.
Democratic Senator Ron Wyden, Chairman of the Senate Finance Committee, said that as Federal Reserve chair, Yellen led an important change to the status quo in economic policy, which had put too great a focus on inflation and deficits. 바카라Chair Yellen called for more focus on employment, income and inequality.
She believed the economy could run a little hotter. The record shows that the Yellen approach was right. Unemployment went down, wages went up, and a lot of people were better off than they were before,바카라 he said.
Senate Minority Leader Mitch McConnell said when the American people elect a president, and when that president selects qualified and mainstream people for key posts, the whole nation deserves for them to be able to assemble their team. 바카라I바카라ll be voting to confirm Dr Yellen today.
I look forward to working together on pro-growth policies that can help rebuild the thriving economy for American workers that was in place just one year ago,바카라 he said ahead of the vote.
With PTI inputs