President-elect Joe Biden plans to nominate former Federal Reserve Chairwoman Janet Yellen to become the next Treasury Secretary, the Wall Street Journal reported Monday.
Yellen is a supporter of financial regulation, including the Dodd-Frank legislation introduced in 2010 to reform the banking system after the financial crisis.
She’s seen as a middle-of-the-road pick: conservative enough for Republicans but liberal enough for Democrats.
Yellen was appointed by President Obama to head the Federal Reserve in 2014, and was succeeded by Jerome Powell.
Yellen was the first woman to lead the U.S. central bank. If she is nominated and confirmed by the Senate as Treasury secretary, she’ll also be the first woman to serve in that role.
Janet Yellen Is Biden’s Pick for Treasury Secretary (Wall Street Journal)
Obama Officially Nominates Yellen As First Female Fed Chair (Forbes, 2013)