Easy Treasury Secretary Confirmation Expected for Janet Yellen

WASHINGTON – Treasury Secretary nominee Janet Yellen appeared for her Senate confirmation hearing and is expected to face an easy confirmation.

Eric LeCompte, the Executive Director of the religious development group Jubilee USA Network and who works closely with US Treasury, releases the following statement on Janet Yellen:

“What a historic moment as Janet Yellen will be the first woman serving as Treasury Secretary.

“Amazingly, Yellen will be the first person to serve in the Holy Trinity of US finance. She chaired the president’s Council of Economic Advisers, the Federal Reserve and will take the helm of Treasury.

“Yellen is the Treasury Secretary we need to confront the severe economic impacts spurred by the coronavirus.

“In her Senate confirmation hearing, she clearly articulated that too many working people, poor people and people of color are experiencing the worst economic impacts of the pandemic.

“Her proven track record is the experience we need to combat growing inequality and argue for big stimulus packages going forward.

“Yellen knows that significant stimulus is urgently needed now to grow our economy and address poverty and inequality.

“Yellen is in lockstep with current Fed analysis that stimulus must move forward quickly.

“She will need to take these strong domestic positions on stimulus policies and apply them on a global level as the developing world faces lost decades of development.

“I have no doubts that she will work well with the IMF, G7 and G20 to promote global stimulus and financial crisis resolution processes.

“More broadly, Yellen advocates stronger policies to address the intersection of economic issues and climate change.

“Yellen has strong views on tackling tax evasion and corruption in our financial system.”

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