Home / Metal News / At a time when the US recovery is weakening, Yellen will go to the front to defend Biden's anti-epidemic rescue plan.

At a time when the US recovery is weakening, Yellen will go to the front to defend Biden's anti-epidemic rescue plan.

iconJan 19, 2021 07:31
Source:Sina
Janet Yellen, the Treasury secretary nominee who has served in the government for more than 25 years, will start a new role on Tuesday, from defender of the Fed's ideas and actions to a salesman of US economic policy. [Yellen will go to the front line to defend Biden's anti-epidemic rescue plan at a time when the US recovery is weakening. " The hearing of the Senate Finance Committee at 10:00 on Tuesday is likely to cover a range of topics, from exchange rates to taxes. It will also be the first congressional forum for members of Congress to consider President-elect Joe Biden's $1.9 trillion anti-epidemic rescue plan.

Janet Yellen, the Treasury secretary nominee who has served the government for more than 25 years, will start a new role on Tuesday, from defender of the Fed's ideas and actions to salesman of US economic policy.

The hearing of the Senate Finance Committee at 10:00 on Tuesday is likely to cover a range of topics, from exchange rates to taxes. It will also be the first congressional forum for members of Congress to consider President-elect Joe Biden's $1.9 trillion anti-epidemic rescue plan.

The 74-year-old Yellen needs to peddle a package that includes an increase in the minimum wage, a substantial expansion of personal leave and sick leave, and these social safety net plans have aroused opposition from Republicans. Democrats who will soon gain control of the Senate will push their own priorities.

If confirmed, Yellen, a former economics professor, will become the first female Treasury secretary in US history, a position that is very different from her previous position as Fed chairman, vice chairman and San Francisco Fed president. She led the President's Council of Economic Advisers under Clinton, but it belonged more to the government's economic think-tank than to the policy-making department.

And her visit to Congress as a political appointee comes as Congress is embarking on an impeachment trial of Donald Trump and the aftermath of violence in the Capitol this month.

"We don't know what kind of salesperson she's going to be in this political context-she never had to do that before," said Tony Fratto, who worked at the Treasury and the White House under George W. Bush. She needs to "figure out the best way to win support for government policies."

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