Janet Yellen Gets Committee Nod To Become The First Female Treasury Secretary Of USA

Janet Yellen's nomination as the first female Treasury Secretary was approved by the Senate Finance Committee of America on Friday. After getting approval from the full Senate, she will take her role as the first woman to ever become Treasury Secretary of the United States of America. 

Yellen was nominated for the role by US President Joe Biden and the Finance Committee approved her nomination unanimously.  The Biden administration is reportedly asking for quick approval for Yellen as they need to roll out the 1.9 Trillion dollar relief plan for the pandemic. 

Senator Ron Wyden, who is going to be the chairman of the upcoming Biden Finance Committee said that he hoped to full Senate approval for Janet Yellen on Friday. 

The committee also has Republicans who expressed disagreement with Yellen and Biden administration plans but they gave the approval as they want Biden to assemble his economic team at the earliest. 

At her hearing before the Finance Senate on Tuesday, Yellen had said that America needs to take quick action as she prediction a "longer and more painful recession". She said that the coronavirus relief fund would provide 1400 dollars to individual American citizens who make less than 75000 dollars in a year. The added benefits of unemployment aid will also be given with further support to small business and others so that they don't have to lay off employees. It will also help in vaccine production and its distribution in the country. 

The Republicans in the US Senate argued that the relief package is too large in addition to other disagreements with the Biden administration.  

Before being the nominee for Treasury Secretary, Yellen had become the first women to ever chair the Federal Reserve of US in 2014. Her term ended in 2018. Read more about her here.