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Biden to nominate Janet Yellen as Treasury secretary
President-elect Joe Biden is preparing to nominate former Fed Chair Janet Yellen as his Treasury Secretary, four people familiar with the matter tell Axios. Why it matters: Yellen, 74, will bring instant economic celebrity to Biden’s team and, if confirmed, she will not only be the first female Treasury Secretary but also the first person to have the held all three economic power positions in the federal government: The chair of Council of Economic Advisers, the chair of Federal Reserve and the Treasury Secretary. • The Wall Street Journal was first to report that Biden will nominate Yellen for the position. • ... (full story)