President-elect Joe Biden said he has settled on a choice for Treasury secretary and suggested that the person would be a crowd-pleasing pick among both centrist and liberal wings of the Democratic Party.
“You’ll soon hear my choice for Treasury. I’ve made that decision — we’ve made that decision,” Biden said in a press conference on Thursday, turning to recognize Vice president-elect Kamala Harris.
The pick, Biden teased, will be revealed “either just before or just after Thanksgiving.”
Who will run the Treasury is a top issue of contention among Democrats and will provide a hint about how much Biden will adopt progressive versus centrist policy positions in his administration. His choice will also have an effect on the stock market, with traders expecting to respond favorably to a more moderate pick.
“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.
Lael Brainard, a Federal Reserve governor and former under secretary of the Treasury under President Barack Obama, is considered a front-runner for the position. Massachusetts Sen. Elizabeth Warren and former Federal Reserve Chairwoman Janet Yellen have also been floated as potential picks.
