President-elect Joe Biden has picked Janet Yellen, the first woman to lead the Treasury Department.
Janet Yellen before the latest appointment was the first woman to head the Federal Reserve System of America in February 2014 during the Obama administration, after serving more than three years as vice-governor. She previously served as head of the Council of Economic Advisers to President Bill Clinton.
According to reports, Joe Biden had hinted on Friday that his choice would be widely acceptable to Democrats. “You’ll find it is someone I think will be accepted by all elements of the Democratic Party, from the progressive to the moderate coalitions,” Biden said Friday.
Since his election as President-elect of US, Biden has been naming top White House staffers and has begun naming his Cabinet picks, as he prepares to take office January 20, 2021 Biden vowed to have a diverse Cabinet that “looks like America.”
Biden named several other Cabinet positions earlier Monday: Longtime adviser Antony Blinken to lead the State Department; Alejandro Mayorkas, who would be the first Latino to lead the Department of Homeland Security; and Avril Haines, the former deputy director of the CIA, to serve as Director of National Intelligence. If confirmed, Haines would be the first woman to lead the intelligence community.
QUICK BACKGROUND OF JANET YELLEN
Yellen served as chair of the Federal Reserve from 2014 to 2018. She had been vice chair for more than three years. She earlier had served as a Fed governor for three years in the mid-1990s and as chief executive of the Federal Reserve Bank of San Francisco from 2004 to 2010.
Yellen left the Fed board in 1997 to serve as chair of the Council of Economic Advisers for nearly three years. During that period, she led the economic policy committee for the Organization for Economic Cooperation and Development.
Yellen is professor emeritus at the University of California at Berkeley where she was on the faculty since 1980. She graduated summa cum laude from Brown University with a degree in economics in 1967 and received a doctorate in economics from Yale University in 1971, when she was the only woman in her class.