Janet Yellen Confirmed as the First Female Treasury Secretary by the Senate.

Janet Yellen’s status as the Treasury Secretary was confirmed by the U.S Senate yesterday, making her the first female U.S. Treasury secretary in history.

The vote was 84–15, with 34 Republicans voting in favor. Market analysts said Yellen is viewed by lawmakers as being in some sense above politics which could come in handy as President Joe Biden fights to pass his $1.9 trillion COVID-19 stimulus package and an infrastructure bill expected to be revealed next month.

Democrats who are eager to turn the pages on the economic policies of Trump’s administration, had no issue with voting for Yellen. The Republicans also casted their votes in favour of Yellen to show their solidarity and willingness to work with democrats to stir the nation out of the economic quagmire it is currently facing because of the pandemic.

Yellen has long been an advocate for addressing the income and wealth distribution in the US, and now that she has been appointed as the T.S, she will be able to act on it. She is well known and well respected among lawmakers of both parties, and she has obvious experience with enormous economic challenges.

All eyes are on Yellen, as lawmakers and investors alike anticipate the outcome of her administration in boosting the U.S economy which has been so badly hit by the pandemic. She has urged lawmakers to “act big” now to save the economy and worry about the debt later.