Previously, her nomination was passed by the Senate Finance Committee with the unanimous support of 26-0. In her new tenure, Yellen will be responsible to fight the economic repercussions caused by the Covid-19 pandemic and global shutdowns.
The Senate Finance Committee held a nomination hearing last week for Janet Yellen to Secretary of the Treasury.
"Without a reaction in the form of additional relief, the US is risking prolonged economic recession," Yellen said, urging the government to "act big" in helping people to overcome the coronavirus crisis. She pointed out that her first task would be "keeping people safe while returning them to work," with the second task "rebuilding the country's economy."
74-year-old American economist would also be the first woman in US history to hold the post of Treasury secretary in its 232-year history. Yellen had held the seat of Federal Reserve chairwoman between 2014 and 2018.