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

Gbadebo Rhodes-Vivour: Commercialisation Of GMO Seeds Can Take Away Nigeria’s Food Sovereignty, Cause Health Issues

Gbadebo Rhodes-Vivour has condemned the commercialisation of GMO seeds, warning of threats to Nigeria’s food…

11 hours ago

Usyk Defeats Fury on Points in Riyadh to Retain Heavyweight Championship Title

Oleksandr Usyk has secured victory over Tyson Fury in Riyadh, successfully defending his heavyweight championship…

16 hours ago

Albania to Ban TikTok for a Year After Schoolboy’s Death Sparks Concerns

Albania plans a one-year TikTok ban from January after a schoolboy’s death sparks concerns over…

19 hours ago

Suspect Remanded in Custody Over Deadly Attack at German Christmas Market

A suspect accused of killing five people by driving into a crowded Christmas market in…

20 hours ago

US Fighter Jet ShotDown in Red Sea ‘Friendly Fire’ Incident Amid Heightened Tensions

A US Navy F/A-18 Hornet was mistakenly shot down over the Red Sea by the…

20 hours ago

NNPC, Dangote Refinery Slash Petrol Prices to N899 Per Litre Amid Rising Competition

NNPC has reduced petrol ex-depot price to N899 per litre, sparking competition with Dangote Refinery…

20 hours ago