FT News Briefing Yellen likely choice for US Treasury, Peru’s century bonds, Oxford-AstraZeneca vaccine
Nov 24, 2020
President-elect Joe Biden is leaning towards appointing Janet Yellen as Treasury Secretary, a move that could shape the U.S. economy during challenging times. Peru has joined a select group of nations by issuing century bonds to tackle its financial hurdles. As Thanksgiving approaches, air travel in the U.S. is increasing, defying health warnings. Meanwhile, optimism is rising around the Oxford-AstraZeneca vaccine, which could play a crucial role in the global fight against COVID-19.
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Yellen's Potential Appointment
- President-elect Joe Biden will likely choose Janet Yellen as Treasury Secretary.
- This would make her the first woman to hold this position.
Yellen's Economic Approach
- Janet Yellen's economic approach involves using fiscal and monetary stimulus.
- She believes the US should leverage its economic tools to boost the economy.
Yellen's Relationship with the Fed
- Yellen's potential appointment could foster a close relationship with the Fed due to her understanding of its powers and limits.
- This contrasts with the current tension between Treasury Secretary Mnuchin and Fed Chair Powell.