President-elect Joe Biden has chosen former Federal Reserve Chairwoman Janet Yellen as his treasury secretary nominee. If confirmed by the Senate, she would be the first woman to hold the post.
Yellen, 74, was the first female head of the Federal Reserve’s governing body, serving as chairwoman from 2014 to 2018 after rejoining the board in 2010. She had previously been a governor during President Bill Clinton’s administration from 1994 to 1997 but left to lead his National Economic Council.
A Biden transition spokesman didn’t immediately respond to the Washington Examiner‘s request for comment.
Massachusetts Sen. Elizabeth Warren, Biden’s Democratic presidential primary rival and a champion to many on the party’s left, was reportedly interested in the role. But her candidacy was hindered by Senate politics.
Another reported contender for Treasurer, Federal Reserve Governor Lael Brainard, was reportedly told by allies of Biden that she should remain at the central bank, perhaps in anticipation of her eventually becoming its chairwoman.
Before Georgia’s two runoff elections on Jan. 5, Republicans are set to control the Senate next Congress, 50 to 48. Republican Massachusetts Gov. Charlie Baker has indicated he’ll veto a state bill compelling him to choose a Democrat to fill Warren’s seat temporarily should she be tapped for the Biden administration.
Biden teased his Treasury pick last week after remarks in Wilmington, Delaware.
“You’ll find it is someone who I think will be accepted by all elements of the Democratic Party, from progressives to the moderate coalitions,” Biden said.
