Biden’s team hopes that Janet Yellen will lead the next government’s economic policy, which will have to navigate the debris left in the wake of the coronavirus.
While President-elect Biden continues to complete his list of nominees, he has chosen an Obama-era Federal Reserve president to lead the economic policy of his administration.
According to an exclusive Wall Street Journal article published on November 23, Biden’s team plans to appoint Janet Yellen to serve as Treasury secretary. Obama originally appointed Yellen to the Fed in 2014, where she remained until early 2018.
In a mandate that aligned with a massive expansion of public knowledge about cryptomorphs and ended soon after Bitcoin’s dramatic bullish market in 2017, Yellen was consistently critical of space, saying Bitcoin was „anything but useful“ in October 2018.
Times, however, have changed dramatically in just two years. In late 2017, Yellen ruled out the idea that the Fed was considering issuing a digital dollar. Meanwhile, throughout 2020, the Fed clearly began to take that expectation seriously.
For her part, Yellen seems to have been quiet about Bitcoin Optimizer since she left the Fed and went to work in a think tank. What she feels sorry for now still needs to be determined.
If approved by the Senate, Yellen would be the first woman to serve as treasury secretary. She is widely regarded as a moderate candidate, although recent public statements suggest she would be much more willing to expand spending than current Secretary Steven Mnuchin, who was recently criticized for closing several emergency loan programs.
The Treasury has been increasingly dealing with cryptomorphs over the past year. Treasury offices include the Financial Crimes Enforcement Network, the IRS, and the Office of the Comptroller of the Currency, all of which have routinely been in the headlines for their increasing attention to the area.