Janet Yellen Becomes The First Women Treasury Secretary In US History

Janet Yellen (kanan). Wikimedia Commons

JAKARTA - Members of parliament confirmed Janet Yellen as Minister of Finance of the United States (US) on Monday, January 25, 2021. Yellen's inauguration made her the first woman in US history to serve as Minister of Finance.

As head of the Treasury Department, Yellen will be tasked with implementing and overseeing the execution of President Joe Biden's $ 1.9 trillion American Rescue Plan through Congress. The plan includes a stimulus check for an extended US $ 1,400 unemployment benefit, and increased funding for vaccinations and COVID-19 testing.

During last week's confirmation hearing, Yellen supported the rescue plan. He said the first priority of the next administration should be to get the country and its people through the pandemic before tackling other problems, including America's swelling deficit or raising taxes.

"Right now, with the lowest interest rates in history, the smartest thing we can do is go big," he told the Senate Finance Committee.

According to the CNN Report, Tuesday, January 26, 2021, Yellen made it clear that his top priority is to provide assistance to those most in need, especially minority workers and women, who are the hardest hit and hardest.

With broad bipartisan support from Wall Street to Washington, Yellen is widely expected to be confirmed. The Senate Finance Committee has approved his candidacy unanimously, 26-0.

"It's hard to imagine a candidate better equipped to meet this much-needed moment than Dr. Yellen," wrote his predecessors at the Treasury Department in a letter supporting his candidacy.

Yellen is known to be no stranger to breaking down barriers in positions of power. In 2014, she became the first woman to run the Federal Reserve and she will be the first to head the government's three most powerful economic bodies: the Treasury Department, the central bank, and the White House Economic Advisory Council.

"Janet Yellen is brilliant and has a track record of being unshakable," said Greg Valliere, head of US policy strategy at AGF Investments, as her candidacy made headlines in November. "He appears to be popular in all factions, from financial markets to Main Street."