She will be the first woman in this position.
The vote for Janet Yellen in the Senate will be held on Monday. According to Senate majority leader Chuck Schumer, the full Senate will vote in favor of her candidacy, allowing her to start working on President Joe Biden’s economic agenda quickly.
At a Finance Committee meeting, her candidacy was supported by 26 senators, no one voted against it. At the same time, Republicans expressed concern about the Biden administration’s ambitious plans for large-scale spending on financial assistance to the economy and tax increases.
In her speech, Yellen said that she suggests that senators do not delay the approval of the proposed package of economic assistance for $ 1.9 trillion. Otherwise, they will have to deal with a recession in the economy, reducing the number of jobs and incomes.
“I have grave differences with Dr. Yellen on a number of her positions, especially on tax policy, but she has assured us that she will engage with us,” Republican Senator Mike Crapo said after the vote.
Janet Yellen, 74, is a well-known economist. In 2014, she became the head of the US Federal Reserve and held this post until 2018.