A Treasury under Janet Yellen may spell an era of Fed control
4 years ago

A Treasury under Janet Yellen may spell an era of Fed control

Live Mint  

Janet Yellen is poised to become the most economically powerful woman in the world. Yellen’s previous experience also suggests that the Biden administration wants a Treasury that works hand in glove with the Fed to bring the US economy back to where it was before the coronavirus pandemic. During Powell’s first year as Fed chair, he directly followed in Yellen’s footsteps with quarterly interest rate increases of 25 basis points. Yellen was selected over other highly qualified candidates, including current Fed governor Lael Brainard, retiring TIAA chief executive officer Roger Ferguson, who was Fed vice chair from 1999 to 2006, and Sarah Bloom Raskin, a former Fed governor and deputy Treasury secretary. Dow Jones, which first reported the selection, said transition officials viewed Yellen as “someone who could collaborate closely with the Fed and executive-branch agencies to engineer more support if Congress remains hesitant to act.” At least if the Fed has to do much of the heavy lifting, it’ll have a familiar face at Treasury doing what she can to lighten the load.

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History of this topic

Trump expected to pick Bessent to be US treasury secretary, sources say
1 month ago

Trump expected to pick Bessent to be US treasury secretary, sources say

Live Mint  

By Steve Holland and Alexandra Ulmer -President-elect Donald Trump is expected to pick prominent investor Scott Bessent to take on the role of U.S. Treasury secretary, sources told Reuters on Friday, putting him at the helm of a cabinet position with vast influence over economic, regulatory and international affairs. Bessent follows other financial luminaries who have taken the job, including …

Treasury Candidate Factions Vie to Win Over an Undecided Trump
1 month ago

Treasury Candidate Factions Vie to Win Over an Undecided Trump

Live Mint  

Presiden-elect Donald Trump’s uncertainty about his slate of Treasury secretary candidates has led to rival factions once again trying to win his favor. Warsh has been involved in transition efforts run out of Trump’s Mar-a-Lago club in Palm Beach since Election Day, largely helping develop economic policy plans. Since Election Day, Bessent has met with Trump multiple times and at …

Biden taps Philip Jefferson to be Fed’s vice chair, Adriana Kugler as first Hispanic on Fed board
1 year, 7 months ago

Biden taps Philip Jefferson to be Fed’s vice chair, Adriana Kugler as first Hispanic on Fed board

Associated Press  

WASHINGTON — President Joe Biden has nominated Philip Jefferson, a member of the Federal Reserve’s Board of Governors, to serve as vice chair of the board, the White House announced Friday. Biden has also chosen Adriana Kugler, a Georgetown University economist, to join the Fed’s board. Jefferson, 61, who first joined the Fed’s board just a year ago, would become …

US treasury secretary expects economy to grow despite recession concerns
1 year, 8 months ago

US treasury secretary expects economy to grow despite recession concerns

Hindustan Times  

US Treasury Secretary Janet Yellen expects the world's biggest economy will continue to grow, despite heightened recession concerns following recent turmoil in the banking sector. The dramatic collapse of Silicon Valley Bank and Signature Bank last month had rattled the industry, prompting US authorities including the Treasury Department and Federal Reserve to step in to prevent contagion. But Yellen told …

Biden names Fed vice chair Brainard to head Economic Council
1 year, 10 months ago

Biden names Fed vice chair Brainard to head Economic Council

Associated Press  

WASHINGTON — President Joe Biden on Tuesday named Federal Reserve Vice Chair Lael Brainard as the new director of his National Economic Council, making the Ph.D. economist a key point person for coordinating policy, talking with business leaders and negotiating with Congress. Biden also nominated longtime adviser Jared Bernstein to be chair of the White House Council of Economic Advisers. …

Yellen, Malerba become 1st female pair to sign U.S. currency
2 years ago

Yellen, Malerba become 1st female pair to sign U.S. currency

LA Times  

Treasury Secretary Janet Yellen, left, and Treasurer Lynn Malerba show off money they autographed Thursday. Treasury Secretary Janet Yellen on Thursday helped mark a milestone in U.S. history when she held up a newly minted $5 bill signed for the first time ever by two women. On the Ukraine conflict instigated last February by Russian President Vladimir Putin, she said, …

Biden chooses 3 for Fed board, including first Black woman
2 years, 11 months ago

Biden chooses 3 for Fed board, including first Black woman

The Independent  

Get Nadine White's Race Report newsletter for a fresh perspective on the week's news Get our free newsletter from The Independent's Race Correspondent Get our free newsletter from The Independent's Race Correspondent SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy President Joe Biden will nominate three people for …

Biden chooses 3 for Fed board, including first Black woman
2 years, 11 months ago

Biden chooses 3 for Fed board, including first Black woman

Associated Press  

WASHINGTON — President Joe Biden will nominate three people for the Federal Reserve’s Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed’s board. Raskin’s nomination to the position of Fed vice chair for supervision — the …

Biden nominates 3 for Fed board, including first Black woman
2 years, 11 months ago

Biden nominates 3 for Fed board, including first Black woman

Associated Press  

WASHINGTON — President Joe Biden on Friday announced the nominations of three people for the Federal Reserve’s Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed’s board. Raskin’s nomination to the position of Fed vice chair …

Jerome Powell endorsed for second term as U.S. Federal Reserve chair
3 years, 1 month ago

Jerome Powell endorsed for second term as U.S. Federal Reserve chair

The Hindu  

U.S. President Joe Biden on November 22 announced that he was nominating Jerome Powell for a second four-year term as Federal Reserve chair. "I'm confident that Chair Powell and Dr. Brainard's focus on keeping inflation low, prices stable, and delivering full employment will make our economy stronger than ever before," Biden said. Progressive Democratic Senator Elizabeth Warren of Massachusetts on …

Biden Goes With Safe Fed Pick Over Nod To Progressives In Face Of Inflation Threat
3 years, 1 month ago

Biden Goes With Safe Fed Pick Over Nod To Progressives In Face Of Inflation Threat

Huff Post  

President Joe Biden speaks as Federal Reserve Board Chair Jerome Powell listens during an announcement that Biden is nominating Powell to a second term. Alex Wong via Getty Images WASHINGTON ― President Joe Biden on Monday cited the need for stability and bipartisan appeal amid persisting inflation and a not-yet-vanquished pandemic as reasons for giving Federal Reserve Chair Jerome Powell …

Biden to keep Powell as Fed chair, Brainard gets vice chair
3 years, 1 month ago

Biden to keep Powell as Fed chair, Brainard gets vice chair

Associated Press  

WASHINGTON — President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed’s ultra-low rate policies helped bolster confidence and revitalize the job market. Biden also said he would nominate as vice chair Lael Brainard, the lone …

Biden taps Powell for second term as Federal Reserve chief
3 years, 1 month ago

Biden taps Powell for second term as Federal Reserve chief

Al Jazeera  

Federal Reserve Chairman Jerome Powell is set to remain the steward of the United States economy after President Joe Biden on Monday nominated him for a second, four-year term. “In the last administration, he stood up to unprecedented political interference and in doing so successfully maintained the integrity and credibility of this institution,” said Biden.”It’s just one of the many …

Treasury Secretary Janet Yellen says she's confident inflation will ease next year
3 years, 1 month ago

Treasury Secretary Janet Yellen says she's confident inflation will ease next year

NPR  

Treasury Secretary Janet Yellen says she's confident inflation will ease next year Enlarge this image toggle caption Paul Ellis/AFP via Getty Images Paul Ellis/AFP via Getty Images Treasury Secretary Janet Yellen said on Wednesday she expects inflation to come down from its three-decade highs in the second half of next year as pandemic pressures on the economy ease. "I expect …

Will Joe Biden stick with Jerome Powell at the Fed?
3 years, 7 months ago

Will Joe Biden stick with Jerome Powell at the Fed?

CNN  

New York CNN Business — President Joe Biden has a lot on his plate right now. And there’s precedent for Biden to stick with Powell so he can continue to manage the central bank’s response to this economic crisis: After all, Biden’s former boss, President Barack Obama, did exactly that when he re-nominated Ben Bernanke for a second term as …

Who are President Biden’s Cabinet members?
3 years, 9 months ago

Who are President Biden’s Cabinet members?

LA Times  

Janet L. Yellen was confirmed by the Senate in an 84-15 vote. JANET L. YELLEN Confirmed Jan. 25 Yellen, an expert on labor markets and employment, is the first woman to head the Treasury Department. She’s also the only person to have held all three of the nation’s top economic posts — chair of the Federal Reserve and head of …

Meet Janet Yellen, Economist Extraordinaire and the First Woman to be US Treasury Secretary
3 years, 10 months ago

Meet Janet Yellen, Economist Extraordinaire and the First Woman to be US Treasury Secretary

News 18  

The US Senate this week approved of President Joe Biden’s nomination of Janet Yellen to be the the country’s 78th treasury secretary, thus building out Biden’s team. A former chair of the Federal Reserve, 74-year-old Yellen was approved by the Senate on a 84-15 vote, becoming the third member of Biden’s Cabinet to win confirmation. Vice-president Kamala Harris swore in …

Yellen says Treasury focus to help nation reeling from virus
3 years, 10 months ago

Yellen says Treasury focus to help nation reeling from virus

Associated Press  

WASHINGTON — Janet Yellen, sworn in Tuesday as the nation’s 78th Treasury secretary and the first woman to hold the office, said in a message to the department’s 84,000 employees that they would play a major role in addressing the country’s biggest economic challenges. “Then, we must assist them in getting back to work safely.” Yellen said it will be …

Janet Yellen wins Senate approval as treasury secretary
3 years, 10 months ago

Janet Yellen wins Senate approval as treasury secretary

Associated Press  

WASHINGTON — The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary, making her the first woman to hold the job in the department’s 232-year history. At her confirmation hearing before the Finance Committee last week, Yellen had argued that without prompt action the nation faced the threat of a “longer, …

Janet Yellen confirmed as US Treasury secretary
3 years, 10 months ago

Janet Yellen confirmed as US Treasury secretary

Al Jazeera  

Yellen, among the first of Biden’s picks to be confirmed, is the first woman to hold the job of overseeing the economy. Janet Yellen was confirmed by the U.S. Senate as the country’s 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus …

Yellen’s nomination as treasury secretary advances in Senate
3 years, 11 months ago

Yellen’s nomination as treasury secretary advances in Senate

Associated Press  

WASHINGTON — The Senate Finance Committee approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary on Friday, setting up a final vote that would make her the first woman to hold the job. Democratic Sen. Ron Wyden of Oregon, the incoming chair of the Finance Committee, said he hoped to get Yellen’s nomination approved …

The debt question facing Janet Yellen: How much is too much?
3 years, 11 months ago

The debt question facing Janet Yellen: How much is too much?

Live Mint  

A big question hangs over Janet Yellen this week at her confirmation hearing to become US Treasury secretary: How much debt is too much? After years of low inflation and interest rates near zero, more economists say the government should be borrowing to keep the economy going because the private sector isn’t. With the help of Fed interest-rate cuts and …

Yellen Urges Congress To 'Act Big' To Prop Up Pandemic-Scarred Economy
3 years, 11 months ago

Yellen Urges Congress To 'Act Big' To Prop Up Pandemic-Scarred Economy

NPR  

Yellen Urges Congress To 'Act Big' To Prop Up Pandemic-Scarred Economy Enlarge this image toggle caption Andrew Harnik/AP Andrew Harnik/AP Janet Yellen, President-elect Joe Biden's nominee to lead the Treasury Department, made the case for aggressive economic relief, urging lawmakers to "act big" to fight the financial fallout from the coronavirus pandemic. At her confirmation hearing Tuesday before the Senate …

Janet Yellen pushes GOP senators on $1.9-trillion COVID-19 relief package
3 years, 11 months ago

Janet Yellen pushes GOP senators on $1.9-trillion COVID-19 relief package

LA Times  

Janet Yellen, who is on track to be the nation’s first female Treasury secretary, told senators during her confirmation hearing Tuesday: “The smartest thing we can do is act big” in fighting the pandemic-driven recession. Janet Yellen, President-elect Joe Biden’s choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9-trillion pandemic …

Biden’s pick to lead Treasury, Janet Yellen, made over $7 million in speaking fees
3 years, 11 months ago

Biden’s pick to lead Treasury, Janet Yellen, made over $7 million in speaking fees

Hindustan Times  

President-elect Joe Biden’s choice to be treasury secretary, Janet Yellen, collected more than $7 million in speaking fees over the past two years from major financial firms and tech giants including Citigroup, Goldman Sachs and Google, according to disclosure forms filed as part of her nomination. Yellen’s was among three financial disclosures turned in by Biden transition officials that were …

Unveiling economic team, Biden pledges, ‘Help is on the way’
4 years ago

Unveiling economic team, Biden pledges, ‘Help is on the way’

Associated Press  

— President-elect Joe Biden on Tuesday introduced top advisers he says will help his administration rebuild an economy hammered by the coronavirus pandemic, declaring, “I know times are tough, but I want you to know that help is on the way.” Biden said he’d chosen a “first-rate team” that is “tested and experienced” to tackle the country’s economic crisis. Biden …

Biden fills Yellen-led economy team, risks clash on budget chief
4 years ago

Biden fills Yellen-led economy team, risks clash on budget chief

Live Mint  

President-elect Joe Biden rolled out the first set of nominations for his economic team on Monday, formally announcing his selection of Janet Yellen to be Treasury secretary, Neera Tanden to lead the Office of Management and Budget and Cecilia Rouse to head the Council of Economic Advisers. Hank Paulson, who was Treasury secretary during the Bush administration, said: “Janet’s credibility …

Biden Names Janet Yellen as Treasury Secretary, Indian-American Neera Tanden as Head of OMB
4 years ago

Biden Names Janet Yellen as Treasury Secretary, Indian-American Neera Tanden as Head of OMB

News 18  

US President-elect Joe Biden on Monday named Janet Yellen as his Treasury Secretary and Indian-American Neera Tanden as Director of Office of Management and Budget, as he announced key members of his economic team. Announcing key members of his economic team, Biden also named Wally Adeyemo, as Deputy Secretary of the Treasury; Cecilia Rouse as Chair of the Council of …

US President-elect Joe Biden to name Indian-American Neera Tanden as White House budget chief
4 years ago

US President-elect Joe Biden to name Indian-American Neera Tanden as White House budget chief

India TV News  

US President-elect Joe Biden on Monday announced key members of his "crisis tested" economic team including Janet Yellen as Secretary of the Treasury, Neera Tanden as Director of the Office of Management and Budget, and Wally Adeyemo as Deputy Secretary of the Treasury. Who is Neera Tanden, the first ever Indian-American tipped to lead the Office of Management and Budget …

Biden taps Yellen for Treasury, announces other members of economic team
4 years ago

Biden taps Yellen for Treasury, announces other members of economic team

Live Mint  

President-elect Joe Biden unveiled his picks for several top economic positions on Monday, including former Federal Reserve Chair Janet Yellen as his nominee for Treasury Secretary, setting the stage for a more diverse White House. In contrast to Trump, who largely picked white men for key positions, Biden's early appointments were shaping up to be highly diverse, including an all-women …

Joe Biden announces all-woman communications team, to nominate Indian-American Neera Tanden as budget chief
4 years ago

Joe Biden announces all-woman communications team, to nominate Indian-American Neera Tanden as budget chief

India Today  

President-elect Joe Biden is expected to name former Obama administration adviser Neera Tanden as director of the White House budget office, and economist Cecilia Rouse as chair of the Council of Economic Advisers as soon as Monday, according to a person familiar with the process. Biden is also expected to pick Wally Adeyemo, who was senior international economic adviser under …

Politics isn’t Janet Yellen’s forte, but it’s what she’s in for now
4 years ago

Politics isn’t Janet Yellen’s forte, but it’s what she’s in for now

Live Mint  

When she led President Clinton’s Council of Economic Advisers in the late 1990s, Janet Yellen confided to her husband, economist George Akerlof, about the challenges she faced navigating Washington’s political storms. As President-elect Joe Biden’s pick for Treasury Secretary, Ms. Yellen is looking at the most political role she has had in nearly three decades of high-profile policy making. “The …

Janet Yellen, Biden’s Treasury Pick, Could Be Key To Confronting Climate
4 years ago

Janet Yellen, Biden’s Treasury Pick, Could Be Key To Confronting Climate

Huff Post  

LOADING ERROR LOADING On July 17, 1997, a day when thermometers in the nation’s capital broke 100 degrees Fahrenheit, the chair of the White House Council of Economic Advisers delivered a speech to the Senate about an issue of mounting concern. “Although a great many scientists believe that global climate change is already underway, the more serious potential damages associated …

Awaiting Yellen at Treasury: Yet another daunting crisis
4 years, 1 month ago

Awaiting Yellen at Treasury: Yet another daunting crisis

Associated Press  

WASHINGTON — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Nathan Sheets, chief economist at PGIM Fixed Income and a former senior Fed and Treasury official, said that Yellen could effectively use the “bully pulpit” during what are likely to be difficult negotiations with Senate Republicans. “Having a …

Biden announces first cabinet posts of administration
4 years, 1 month ago

Biden announces first cabinet posts of administration

Al Jazeera  

The president-elect named nominees for secretary of state, homeland security, national security adviser, among others. The nominees on Monday included Antony Blinken for secretary of state, Alejandro Mayorkas to be secretary of homeland security, Avril Haines for director of national intelligence, Jake Sullivan for national security adviser, Linda Thomas-Greenfield for US ambassador to the United Nations and former Secretary of …

Biden picks ex Fed Chair Janet Yellen to lead US Treasury: Source
4 years, 1 month ago

Biden picks ex Fed Chair Janet Yellen to lead US Treasury: Source

Al Jazeera  

US President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as Treasury secretary, sources tell AP, placing her in a crucial role at a perilous moment in the nation’s economic recovery. United States President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as Treasury secretary, a pivotal role in which she would …

Biden Picks Janet Yellen To Be Treasury Secretary In Historic Appointment
4 years, 1 month ago

Biden Picks Janet Yellen To Be Treasury Secretary In Historic Appointment

NPR  

Biden Picks Janet Yellen To Be Treasury Secretary In Historic Appointment Enlarge this image toggle caption Brendan Smialowski/AFP via Getty Images Brendan Smialowski/AFP via Getty Images Updated at 6:15 p.m. President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen to head the Treasury Department, a source close to the transition told NPR on Monday If confirmed, Yellen …

Biden adds Obama administration veterans to top staff
4 years, 1 month ago

Biden adds Obama administration veterans to top staff

LA Times  

President-elect Joe Biden is adding four Obama-Biden administration veterans to his top ranks as he continues to build out his White House team. Cathy Russell, who was Jill Biden’s chief of staff during the Obama administration, will serve as director of the White House Office of Presidential Personnel, evaluating applicants for administration roles. Louisa Terrell, who served as a legislative …

Biden-Harris administration: Here’s who could serve in top roles
4 years, 1 month ago

Biden-Harris administration: Here’s who could serve in top roles

CNN  

Washington CNN — President-elect Joe Biden is beginning to announce the men and women who will serve in top roles in his administration. Adeyemo served during the Obama administration as the President’s senior international economic adviser, and also served as deputy national security adviser, deputy director of the National Economic Council, the first chief of staff of the Consumer Financial …

Climate Progressives Eye Treasury As Key Post If Biden Wins
4 years, 1 month ago

Climate Progressives Eye Treasury As Key Post If Biden Wins

Huff Post  

LOADING ERROR LOADING The Treasury Department is emerging as a high-priority for climate progressives seeking to influence a Joe Biden administration, should he win the 2020 election. Two names top the climate activists’ lists: Sen. Elizabeth Warren and Sarah Bloom Raskin, a former Federal Reserve governor who served as the deputy Treasury secretary in President Barack Obama’s second term. These …

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