Biden to nominate Janet Yellen as Treasury secretary

Janet Yellen of the Federal Reserve

US president-elect Joe Biden is set to nominate former Federal Reserve chair Janet Yellen as Treasury secretary, according to widespread media reports.

If confirmed by the Senate, Yellen would be in charge of designing the fiscal stimulus of the incoming administration. She would also closely co-ordinate the government’s response to the Covid-19 pandemic with the Fed.

The importance of this relationship – and the strain it is currently under – became apparent last week when current Treasury

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