Ex-Fed Chair Janet Yellen is US President-elect Biden’s pick for Treasury Secretary – WSJ

Wall Street Journal (WSJ) recently came out with the news suggesting that the ex-boss of the US Federal Reserve, Janet Yellen, would become the first woman to become the American Treasury Secretary, per the sources.

The move is yet to be confirmed by the US Senate, per the news.

Fed Governor Lael Brainard and former Fed Vice Chair Roger Ferguson are also likely to be on the team.

FX implications

Janet Yellen has gained a reputation for battling key economic crisis and has been on the policy-making fore-front for over three decades, which in turn gives rise to hopes of better recovery from the coronavirus (COVID-19)-led crisis. After the news, Wall Street benchmarks jumped to close in positive during the final hours of trading on Monday.