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Biden Reportedly to Choose Janet Yellen as US Treasury Secretary

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Projected president-elect Joe Biden is set to nominate former Federal Reserve Chair Janet Yellen as his treasury secretary, the Wall Street Journal reported on Monday, citing sources familiar with the decision.

If confirmed by the Senate, Yellen might become the first woman to hold the job. Mr. Biden’s selection positions the 74-year-old labour economist to lead his administration’s efforts to drive the recovery from the destruction caused by the coronavirus pandemic.

Later, the US dollar index fell slightly to 92.47 after the WSJ reported that Janet Yellen was reportedly selected by Biden for the post of Treasury secretary.

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