She will be the first woman in the post
The vote for Janet Yellen in the Senate will take place Monday. According to Senate Majority Leader Chuck Schumer, the full Senate will vote for her nomination, allowing her to get to work quickly on President Joe Biden’s economic agenda.
At the Finance Committee meeting, 26 senators supported her nomination; none voted against it. At the same time, Republicans expressed concern over the Biden administration’s ambitious plans for the planned massive spending on bailouts and tax increases.
In her speech, Yellen said she suggested senators should not delay approval of the proposed $1.9 trillion economic aid package. Otherwise, they will be dealing with a recessionary economy and a reduction in jobs and income.
“I have very serious disagreements 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. She became head of the U.S. Federal Reserve in 2014 and held that post until 2018.