Media: Biden will nominate ex-Fed head Yellen for the post of Treasury Secretary


President-elect Joe Biden will nominate former Fed Chairman Janet Yellen for the post of Treasury Secretary, several US media reported.

Reports, including the New York Times and the Wall Street Journal, note that Yellen, who was appointed by the head of the Fed by President Barack Obama, if approved by the Senate, would become the first woman to serve as Treasury Secretary.

Biden said last week that he has decided on the choice of the Treasury Secretary and will reveal the name of the candidate shortly before or shortly after Thanksgiving.

Yellen, 74, also served as president of the Federal Reserve Bank of San Francisco and chief economic adviser to President Bill Clinton.


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