Like the other appointments in the government, the Senate has yet to approve this, but observers do not expect the senators to stop Yellen. Progressive Democratic Senator Elizabeth Warren is enthusiastic, but many Republicans would also appreciate Yellen. For her, it’s a sweet return: Two years ago, President Trump chose not to extend Yellen’s tenure as chairman of the Federal Reserve, the US central banking system. It was then the first time since the 1970s that a Fed chairman could only complete one term in office.
Janet Yellen must therefore get the US economy out of the doldrums of the corona crisis for future president Joe Biden. She can rely on her rich experience during and after the 2008 financial crisis.
–
