According to analysts, Joe Biden is expected to make some cabinet replacements after the inauguration. Thus, former Fed chair Janet Yellen is President-elect Joe Biden's pick to be US Treasury Secretary. Experts believe that Yellen will become the first female to chair the Treasury, the US Federal Reserve, and the White House Council of Economic Advisers. In 2014-2018, Yellen headed the central bank. Prior to that, she was President of the Federal Reserve Bank of San Francisco and served as Fed vice chairwoman. Apart from that, she is a distinguished fellow at the Brookings Institution. In addition, Janet Yellen received her PhD in economics from Yale University under the supervision of Nobel laureates James Tobin and Joseph Stiglitz. Janet Yellen’s husband is George Akerlof, the Nobel Prize winner. Analysts assume that Yellen will adhere to an aggressive stance on monetary policy and will fiercely fight economic inequality and climate change. Joe Biden administration spokesperson and Janet Yellen refrained from commenting on the appointment issue.
