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Awaiting Yellen At Treasury: Yet Another Daunting Crisis

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FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. (AP Photo/Andrew Harnik, File)

(AP) — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden’s apparent choice for treasury secretary, served on the Federal Reserve’s policymaking committee during the 2008-2009 financial crisis. She became Fed chair in 2014 when the economy was still recovering from the Great Recession. In the late 1990s, she was President Bill Clinton’s top economic adviser during the Asian financial crisis. And now, according to a person familiar with Biden’s transition plans, she has been chosen to lead Treasury with the economy in the grip of a surging viral epidemic. Yet many see Yellen as ideally suited for the role.

 

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