US Senate panel okays Yellen’s nomination as Treasury Secy

Washington, Jan 23 : The US Senate Finance Committee on Friday unanimously approved President Joe Biden’s nomination of former Federal Reserve Chair Janet Yellen to be the next US Treasury Secretary.
The Senate panel approved Yellen’s nomination by a vote of 26-0, sending it to the full Senate for final confirmation, the Xinhua news agency reported.
“I hope that President Biden realises that the treatment of Dr. Yellen’s nomination in this Committee signals interest by me and my Republican colleagues in working cooperatively and in a bipartisan way,” Chuck Grassley, an Iowa Republican and chairman of the Senate Finance Committee, said.
“We want to work on policy issues to help all Americans, and are not interested in cancerous culture wars that serve only to divide the country,” Grassley said.
Yellen, a 74-year-old well-regarded economist, is not expected to face any serious opposition from US senators.
“As I noted earlier, her nomination triggered the most favourable reaction to any I can remember — economists, politicians and market participants,” Mohamed A. El-Erian, Chief Economic Advisor at Allianz, tweeted on Friday.