ALL NEWS

Janet Yellen confirmed as first female Treasury secretary in US history

Jan 25, 2021, 4:29 PM | Updated: 4:58 pm
Yellen confirmed US Treasury Secretary...
WILMINGTON, DELAWARE - DECEMBER 01: U.S. Secretary of the Treasury nominee Janet Yellen speaks during an event to name President-elect Joe Biden’s economic team at the Queen Theater on December 1, 2020 in Wilmington, Delaware. (Photo by Alex Wong/Getty Images)
(Photo by Alex Wong/Getty Images)
Originally Published: 25 JAN 21 18:23 ET

(CNN) — Lawmakers confirmed Janet Yellen as Treasury secretary on Monday, making her the first woman in American history to hold the position.

As head of the Treasury, she’ll be tasked with shepherding President Joe Biden’s $1.9 trillion American Rescue Plan through Congress and overseeing its execution. The plan includes $1,400 stimulus checks, expanded unemployment benefits, and increased funding for Covid-19 vaccinations and testing.

During her confirmation hearing last week, Yellen defended the size and scope of the plan, saying the first priority of the incoming administration must be to get the nation and its people through the pandemic before addressing other concerns, including America’s ballooning deficit or raising taxes.

“Right now, with interest rates at historic lows, the smartest thing we can do is act big,” she told the Senate Finance Committee.

She made clear her No. 1 priority would be to provide relief for those in the greatest need — especially minority workers and women, who have been hit hardest by the downturn.

“The pandemic has caused widespread devastation,” Yellen said in her testimony. “The damage has been sweeping, and … our response must be, too.”

With broad bipartisan support from Wall Street to Washington, Yellen was widely expected to be confirmed. The Senate Finance Committee on Friday approved her nomination unanimously, 26-0.

“It is hard to imagine a better prepared nominee to meet this great moment of need than Dr. Yellen,” her Treasury secretary predecessors wrote in a letter backing her nomination.

She’s no stranger to breaking barriers in positions of power. In 2014, she became the first woman to run the Federal Reserve, and she will be the first person ever to have led the three most powerful economic bodies in government: Treasury, the central bank, and the White House Council of Economic Advisers.

“Janet Yellen is brilliant and has a track record for being unflappable,” Greg Valliere, chief US policy strategist at AGF Investments, said when her nomination made headlines in November. “She seems to be popular in all factions, from the financial markets to Main Street.”

The-CNN-Wire
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Today’s Top Stories

All News

...
Ike Yospe

KSL NewsRadio employees win Gracie Award

SALT LAKE CITY — KSL NewsRadio host Debbie Dujanovic and producer Caitlyn Johnston have been recognized by the Alliance for Women in Media Foundation as 2023 Gracie Award winners. Their radio special, “Genetics and Genealogy: How to use testing and family history to decode your risk for cancer” won “Best Interview Feature — Talk” in […]
12 hours ago
The U.S. Dept. of Labor assessed nearly $17,000 in penalties to Standard Restaurant and Supply in S...
Logan Stefanich

Utah company with ties to polygamous group cited for violating child labor laws

A federal investigation found the company allowed 22 underage employees to work 40+ hours a week, and to begin work after midnight.
12 hours ago
A timed entry reservation system begins on April 1 at Arches National Park in Moab. And it will con...
Simone Seikaly

Arches visit will require reservation April 1 through October 31, 2023

Reservations will be required to enter Arches every day between the hours of 7 a.m. and 4 p.m, April 1 through October 31, 2023.
12 hours ago
A train hauling ethanol derailed Thursday morning in Raymond, Minnesota, igniting several rail cars...
Tina Burnside and Holly Yan, CNN

Homes evacuated after train carrying ethanol derails, catches fire in Minnesota

Preliminary information suggests 14 of the train's 40 cars were carrying hazardous material according to US officials.
12 hours ago
Emergency responders are seen near a site where two military helicopters crashed Wednesday night du...
The Associated Press

Nine soldiers killed after Army helicopters crash in Kentucky

A statement from Fort Campbell says the HH-60 Black Hawk helicopters, part of the 101st Airborne, crashed around 10 p.m. Wednesday in Trigg County, Kentucky.
12 hours ago
Buffalo Bills safety Damar Hamlin spoke on Capitol Hill on March 29 in support of the Access to AED...
Carma Hassan, CNN

This life-saving medical device isn’t required at all schools. Damar Hamlin wants to help change that

Buffalo Bills safety Damar Hamlin said Wednesday that when he played football as a child, he never thought about CPR or where there might be an automated external defibrillator (AED) nearby.
12 hours ago

Sponsored Articles

Cheerful young woman writing an assignment while sitting at desk between two classmates during clas...
BYU EMBA at the Marriott School of Business

Hear it Firsthand: 6 Students Share Their Executive MBA Experience at BYU’s Marriott School of Business

The Executive MBA program at BYU offers great opportunities. Hear experiences straight from students enrolled in the program.
Skier being towed by a rider on a horse. Skijoring....
Bear Lake Convention and Visitors Bureau

Looking for a new winter activity? Try skijoring in Bear Lake

Skijoring is when someone on skis is pulled by a horse, dog, animal, or motor vehicle. The driver leads the skiers through an obstacle course over jumps, hoops, and gates.
Banner with Cervical Cancer Awareness Realistic Ribbon...
Intermountain Health

Five common causes of Cervical Cancer – and what you can do to lower your risk

January is National Cervical Cancer Awareness month and cancer experts at Intermountain Health are working to educate women about cervical cancer.
Kid holding a cisco fish at winterfest...
Bear Lake Convention and Visitors Bureau

Get ready for fun at the 2023 Bear Lake Monster Winterfest

The Bear Lake Monster Winterfest is an annual weekend event jam-packed full of fun activities the whole family can enjoy.
happy friends with sparklers at christmas dinner...
Macey's

15 easy Christmas dinner ideas

We’ve scoured the web for you and narrowed down a few of our favorite Christmas dinner ideas to make your planning easy.
Spicy Homemade Loaded Taters Tots...
Macey's

5 Game Day Snacks for the Whole Family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Janet Yellen confirmed as first female Treasury secretary in US history