US Treasury may first be headed by a woman

US Treasury may first be headed by a woman

Janet Yellen may become the new head of the US Treasury, writes The Wall Street Journal. From 2014 to 2018, she was the head of the Federal Reserve System, as well as the first woman in this position.

Democrat Joe Biden plans to appoint former US Federal Reserve Chairman Janet Yellen as the next Treasury Secretary. This was reported on November 23 by The Wall Street Journal, citing sources.

If approved by the Senate, Yellen will become the first woman to hold the post. Biden plans to instruct Yellen to “spearhead the administration’s efforts to further recover from the devastation caused by the coronavirus pandemic and related restrictions.”

Yellen is 74 years old, in 2010-2014 she served as Deputy Chairman of the Board of Governors of the US Federal Reserve System, and in 2014 she headed this department, becoming the first woman in this post in 100 years. She stayed in office until February 2018.

After leaving the Fed, she joined the Hutchins Center for Fiscal and Monetary Policy at the Brookings Institution, Washington.

On the eve, Biden also named the names of candidates whom he plans to appoint to key posts in his administration if he wins the elections.

In the United States, on November 3, 2020, the main vote in the presidential elections took place. More than 10 candidates applied for the post, the main competitors were the current head of the White House, Republican Donald Trump and Democrat Biden. The turnout in these elections was a record for 120 years – about 160 million Americans took part in them.

The United States has a two-tier election system. After a popular vote, an electoral college will vote from each of the 50 states and the District of Columbia (the number of electors in each state depends on the population). In most states, the candidate who receives the most popular votes will receive all the electoral votes. According to CNN, ABC News and Fox News, Biden has garnered the support of 306 electoral college members. Trump, according to the forecast of TV channels, has the support of 232 electors. To win, you need to collect at least 270 votes. The electoral college will vote on 14 December.

Biden has already announced that he will be the next president of the United States, and a number of world leaders have congratulated him on his victory, including Ukrainian President Volodymyr Zelensky.

Trump refuses to admit defeat and slows down the transfer of power, but on November 13 admitted that another administration would work in the White House, and on November 24 it became known that the Trump administration had declared its readiness to transfer power to Biden.

The winner of the election is to be officially announced by the President of the US Senate at a meeting on January 6, 2021. On January 20, the elected head of state is to be sworn in.