Economics
Yellen to Forge Economic Comeback as Biden’s Treasury Pick
- Battle-tested Yellen faces economic slump, logjam in Congress
- Biden on Monday named Adeyemo as No. 2 at Treasury Department
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President-elect Joe Biden took a significant step this week toward addressing the damage to the U.S. economy inflicted by the coronavirus pandemic, naming an economic team led by his choice for Treasury secretary, former Federal Reserve Chair Janet Yellen.
In Yellen, Biden will have a battle-tested policy maker who can draw on her nearly two decades at the Fed to help rebuild an economy in dire need of government cash and confidence. Biden has called for trillions of dollars in new stimulus to aid the small and mid-size businesses that are the nation’s jobs engine.