Biden nominated Janet Yellen for the position of Treasury secretary. She will not only be the first woman to hold the job, but also the first person to hold the top three U.S. economic policy positions including the chair of the Council of Economic Advisers, chair of the Federal Reserve bank, and now the secretary of the Treasury.
Even within the Fed, there’s a division between “hawks” and “doves.” Hawks prioritize low inflation, while doves prioritize low unemployment. Yellen is a leading dove, and she is also a strong believer in Keynesian economics.
Yellen will likely be bullish on stimulus, as the Trump administration has failed to produce a major second round of stimulus. Nevertheless, the size of the stimulus is dependent on the result of the Senate runoffs in Georgia. It also predicted that she will ease tariffs between the U.S. and China.
Read more: https://www.nytimes.com/2020/11/26/opinion/janet-yellen.html, https://finance.yahoo.com/news/what-a-treasury-secretary-janet-yellen-would-mean-for-markets-205216468.html
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