According to US media, Biden appoints Janet Yellen as finance minister

According to US media, Biden appoints Janet Yellen as finance minister

Newly elected US President Joe Biden appoints Janet Yellen (74) as finance minister, according to US media. If the Senate confirms her in office, she will be the first woman in the post in US history. The bbc.com portal informs about it. In the past, Yellen was the governor of the US Federal Reserve and an economic adviser to President Bill Clinton. Yellen is credited with helping to navigate the economic recovery from the 2007 financial crisis and the ensuing recession. As head of the US Federal Reserve (YD), Yellen was known for focusing more attention on the impact of central bank policy on employees and the costs of growing inequality in the United States. President Donald Trump broke the tradition by deciding not to appoint Yellen for a second four-year term as Fed chief. Yellen's focus on employment rather than inflation has created her reputation as a proponent of low interest rates that support economic activity.