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Biden unveils key picks while report says ex-Fed chair Janet Yellen to lead treasury – live
- Janet Yellen to be nominated as treasury secretary – report
- Biden and Harris hold virtual meeting with US mayors
- Today so far
- Biden unveils national security and foreign policy team
- Republican senator: No evidence of any widespread fraud in the election
- Oxford AstraZeneca vaccine has up to 90% efficacy
- More Americans hospitalised with Covid than ever before ahead of Thanksgiving
Janet Yellen to be nominated as treasury secretary – report
Former Federal Reserve chairwoman Janet Yellen will be nominated to lead the treasury department, according to the Wall Street Journal.
The Journal reports:
If confirmed by the Senate, Ms. Yellen would become the first woman to hold the job. [Joe] Biden’s selection positions the 74-year-old labor economist to lead his administration’s efforts to drive the recovery from the destruction caused by the coronavirus pandemic.
Ms. Yellen, who was the first woman to lead the Fed, would become the first person to have headed the Treasury, the central bank and the White House Council of Economic Advisers. ...
She is viewed by Biden transition officials as a credible authority on the dangers of prematurely withdrawing government stimulus and as someone who could collaborate closely with the Fed and executive-branch agencies to engineer more support if Congress remains hesitant to act.
Ms. Yellen was confirmed with bipartisan support as a Fed chairwoman in 2014 and as vice chairwoman in 2010. She received 11 Republican votes in her 2014 confirmation, including the backing of three sitting Republican senators: Richard Burr of North Carolina, Susan Collins of Maine and Lisa Murkowski of Alaska.
Biden said last week that he had selected his nominee for treasury secretary and would announce his choice shortly before or shortly after the Thanksgiving holiday on Thursday.
Updated
Biden and Harris hold virtual meeting with US mayors
Joe Biden and Kamala Harris are currently holding a virtual meeting with the US conference of mayors in Wilmington, Delaware.
The president-elect spoke about the need for local leaders to work with the federal government to confront coronavirus and the economic fallout from the pandemic.
Biden said his administration “will have an open door for mayors,” promising to be a “true partner” for local leaders.
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