Janet Yellen’s nomination as Treasury Secretary was cleared by the Senate Finance Committee. The full Senate will likely approve her nomination today, making her the first woman in American history to hold the position. Yellen was previously the first woman to serve as chair of the Federal Reserve from 2014 to 2018.
“The Finance Committee approved her nomination on a 26-0 vote,” The Associated Press reported. “The administration is urging a quick confirmation vote, saying it’s critical to get the top member of Biden’s economic team in place as the Democratic president seeks to win approval of a $1.9 trillion coronavirus relief plan.”
Coronavirus relief is certainly at the top of the administration’s priorities. Earlier, reports indicated that President Joe Biden will sign two executive orders on Covid-19 relief that aim to provide vital economic relief to Americans weathering the economic freefall caused by the coronavirus pandemic.
One order will require the Treasury Department to update its process for issuing direct payments to those Americans who reported issues or delays getting the first two rounds of Covid-19 relief. Yellen will undoubtedly play a major role in the restructuring and in general as the administration launches full speed into its plan to address the current economic crisis.
Biden announced his intention to nominate Yellen in November, shortly after winning the 2020 general election.