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Congress confirmed Janet Yellen as the first woman Treasury Secretary in American history on Monday.
The new head of the Treasury will be responsible for overseeing President Joe Biden’s $1.9 trillion American Rescue Plan.
The notable Treasurer has broken several political barriers. In 2014, she became the first woman to run the Federal Reserve. Yellen continues to make history as the first and only person to hold a leading position in Treasury, the Central Bank, and the White House Council of Economic Advisers.
Yellen addressed several points during her confirmation. According to the U.S Treasury, the pandemic is her top priority.
“Right now, with interest rates at historic lows, the smartest thing we can do is act big. The pandemic has caused widespread devastation. The damage has been sweeping, and our response must be, too,” Yellen said in her testimony.
On Friday, the Senate Finance Committee approved Yellen’s nomination 26-0. “Janet Yellen is brilliant and has a track record for being unflappable. She seems to be popular in all factions, from the financial markets to Main Street,” Greg Valliere, chief US policy strategist at AGF Investments, said.
