Yellen, former chairman of the Federal Reserve, becomes the first female Treasury Secretary

Yellen, former chairman of the Federal Reserve, becomes the first female Treasury Secretary

Photo: the US Senate voted on the 25th to appoint Yellen as US Treasury secretary. /Agence France Presse

The US Senate voted on the 25th to appoint former Federal Reserve Chairman Janet Yellen as Treasury Secretary, making her the first female Treasury Secretary in the history of the United States. She has a tough attitude towards China and regards China as the most important strategic competitor;. The Senate will vote on the nomination of secretary of state designate Abraham Lincoln on the 26th, and it is expected to pass without suspense.

The Senate approved Yellen’s nomination as Treasury Secretary by 84 votes for and 15 votes against. Schumer, the Democratic leader in the Senate, said that the overwhelming support reflected Yellen’s rich experience and was recognized by both parties. Before the economic crisis, Yellen was the “most suitable person” for Finance Secretary;.

Yellen, 74, is a Ph.D. in economics at Yale University. He was a professor of economics at the University of California, Berkeley, and was the first woman to hold the post of chairman of the Federal Reserve from 2014 to 2018. Yellen supports the government’s immediate economic stimulus measures, such as issuing cash to the public, increasing unemployment benefits and providing assistance to small businesses. He is expected to push Biden’s $1.9 trillion epidemic relief plan after taking office. However, due to the high cost of the rescue, the Republican Party strongly opposed it, and the Democratic Party also disagreed with it. It was afraid that the vote would be delayed until mid March.

On the issue of China, Yellen promised to use all available tools to unite with allies to deal with China’s so-called unfair and illegal trade practices. She also said that the new government will comprehensively review Trump’s trade policy with China and will not immediately abolish tariffs on China.

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