Categories: GlobalLatest

Yellen Confirmed as First Woman US Treasury Secretary

Janet Yellen made history on Monday when the Senate confirmed her nomination as secretary of the Treasury by a vote of 84-15.

As treasury secretary, Yellen, 74, would occupy a pivotal role in shaping and directing President Joe Biden’s economic policies. She would enter the position after many years serving in other top economic jobs, including becoming the first woman to serve as chair of the Federal Reserve, from 2014 to 2018.

Since leaving the Fed, Yellen has been a distinguished fellow in residence at the Brookings Institution, a liberal Washington think tank.

According to financial disclosure forms she provided during her confirmation, she collected more than $7 million in speaking fees during more than 50 in-person and virtual engagements over the past two years, including with many Wall Street firms. Yellen has agreed to recuse herself from decisions that would affect certain financial organizations.

The administration urged a quick confirmation vote in the full Senate, saying it’s critical to get the top member of Biden’s economic team in place as the Democratic president seeks to win approval of a $1.9 trillion coronavirus relief plan.

AP

Follow us on:

AriseNews

Recent Posts

Rights Activists Demand Release of Iranian Woman Detained For Undressing In Defiance Of Hijab Laws At University

Human Rights activists have renewed calls for Iran to release a woman who undressed in…

38 seconds ago

93 Zamfara State Students Stranded in Cyprus, Government Alleges Negligence by Matawalle’s Administration

Zamfara government has blamed Matawalle's administration for the plight of the 93 students stranded in…

5 mins ago

Government Moves To Terminate Julius Berger’s N740bn Abuja-Kano Contract Over Non-Compliance

The federal government has issued a 14-day termination notice to Julius Berger over non-compliance on…

25 mins ago

NHIA, States Move to Maximise $669m Global Fund Support for Health Insurance

The NHIA, with Global Fund’s $669 million support, aims to strengthen Nigeria’s health insurance against…

31 mins ago

Nigeria’s Ship Will Not Sink, Tinubu Assures As Seven New Ministers Join Cabinet

Tinubu has urged the new ministers to stay focused and resilient, affirming his administration’s resolve…

32 mins ago

Tinubu Reaffirms Commitment to Enhanced Nigeria-UK Relations in Trade, Security, Cultural Exchange

Tinubu has pledged Nigeria’s commitment to a strengthened UK partnership, emphasising trade, security, and cultural…

42 mins ago