The Senate yesterday confirmed Janet L. Yellen, a labor economist and former Federal Reserve chair, to be Treasury secretary, putting in place a key lieutenant to President Biden at a perilous economic moment, as the new administration tries to revive an economy that has been battered by the coronavirus pandemic, the New York Times reported. By a vote of 84 to 15, the Senate confirmed Yellen, making her the first woman to hold the top job at Treasury in its 232-year history. Her quick bipartisan confirmation underscored the support she has from both Republicans and Democrats given her previous stint as Fed chair from 2014 to 2018. Yellen now faces a new and considerable challenge. As Treasury secretary, she will be responsible for helping Biden prepare the $1.9 trillion stimulus package he has proposed, steer it through Congress and — if it is approved — oversee the deployment of trillions of dollars of relief money.
