The U.S. Senate Finance Committee scheduled a meeting for Friday to consider the nomination of Janet Yellen for Treasury Secretary, raising the possibility that she could be confirmed by the full Senate later that day, Reuters reported. The new administration of President Joe Biden is pushing for speedy confirmation of key cabinet members to accelerate efforts to fight the COVID-19 pandemic and move forward with economic relief measures. As the Senate continues to consider Yellen’s nomination, the Treasury Department on Wednesday named several people to senior Treasury posts that do not require Senate confirmation. Yellen urged lawmakers on Tuesday to “act big” on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden. Committee members had until Wednesday evening to submit additional questions related to Yellen’s confirmation hearing, putting pressure on Yellen to respond and on the Senate to act before lawmakers head home for the weekend. One source familiar with the congressional process said a second hearing was unlikely.
