Economics
Yellen May Boost Treasury-Fed Cooperation, With Eye on GOP
- Mnuchin pulled Treasury funding from several Fed facilities
- Yellen seen avoiding early moves likely to anger Republicans
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As Treasury secretary, Janet Yellen is almost certain to pursue tighter coordination with the U.S. Federal Reserve next year -- repairing recent frictions -- though observers say she will be careful to avoid any specific move that could trigger a wave of Republican protests.
President-elect Joe Biden’s pick for Treasury was at the Fed for the better part of two decades, and saw first-hand how vital the cooperation of the two agencies is to ensuring the flow of credit amid stressed economic times.