Since the announcement that Yellen will be nominated, Yellen has stressed the importance of fiscal policy on many occasions. The US economic recovery can not only rely on the monetary policy of the Federal Reserve.
On November 30 local time, U.S. President elect Joe Biden nominated former Federal Reserve Chairman Yellen as treasury secretary. Once approved by Congress, Yellen will become the first female Treasury Secretary in the history of the United States. On the same day, Biden also announced the candidates for the economic team, which is characterized by diversity, mostly women and ethnic minorities.