SAN FRANCISCO Janet Yellen, 74, is President-elect Joe Biden's pick to be Treasury Secretary, according to two Democratic allies.
SAN FRANCISCO, Nov 23 Janet Yellen, 74, is
President-elect Joe Biden's pick to be Treasury Secretary,
according to two Democratic allies.
The U.S. Congress' rapid response to the coronavirus pandemic in March was meant to unleash a $4 trillion fire hose of credit for a stricken economy, distributed broadly by the Federal Reserve to help firms and markets survive a once-in-a-century collapse.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy as President-elect Joe Biden organizes his administration.
WASHINGTON Federal Reserve Chair Jerome Powell said on Tuesday it was not time to shut down emergency programs aimed at battling the economic fallout from the coronavirus pandemic, with cases again surging and the economy left with "a long way to go" to recover.
WASHINGTON The path to the Federal Reserve for President Donald Trump's controversial nominee Judy Shelton narrowed Tuesday after the Senate blocked a key procedural vote and a Republican senator who was one of her supporters said he came down with the coronavirus. | Video
The Federal Reserve is moving closer to joining an international group of central bankers working to understand and reduce climate change risk, paving the way for the world's most influential central bank to help shape global financial markets' response to a warming world.
President Donald Trump looks set to put his final stamp on the Federal Reserve just weeks after being voted out of office, with the Senate expected to approve his picks soon to fill the last two open seats at the U.S. central bank.