President-elect Joe Biden’s selection of Janet Yellen as Treasury secretary signals that he plans to act aggressively to revive the world’s biggest economy, putting a former Federal Reserve chair who’s not shied away from stimulus at the helm of his economic policy.
With Yellen in charge, Biden’s Treasury department will be prepared to join Fed Chairman Jerome Powell’s policy of lower-for-longer interest rates with extended, expansionary government spending.
Former Fed Governor Frederic Mishkin says Janet Yellen is “extremely highly qualified” to be the next U.S. Treasury secretary.
Source: Bloomberg)
While her reported pick was applauded both on Wall Street and in much of official Washington -- even by some of President Donald Trump’s allies -- Yellen is sure ...
