EG SQUAWK
USA Biden stays mainstream with Yellen pick
Regina Argenzio
Janet Yellen’s pick for treasury secretary came on our radar as a possibility this summer, when she was unusually outspoken in her political support for Biden, penning supportive pieces for him with economic advisor Jared Bernstein. She is as mainstream a pick as there is, and though she supports more bank regulation than the median republican senate, she will be supported by most industry groups as a competent and credible moderate Democrat and will easily be confirmed by either a republican or democratically controlled senate in January. One aspect to watch in her confirmation is her support for a carbon tax plan that includes a regulatory rollback, which will be controversial with some environmentalists on the left, but not enough to stop or even slow her confirmation.
Janet Yellen’s pick for treasury secretary came on our radar as a possibility this summer, when she was unusually outspoken in her political support for Biden, penning supportive pieces for him with economic advisor Jared Bernstein. She is as mainstream a pick as there is, and though she supports more bank regulation than the median republican senate, she will be supported by most industry groups as a competent and credible moderate Democrat and will easily be confirmed by either a republican or democratically controlled senate in January. One aspect to watch in her confirmation is her support for a carbon tax plan that includes a regulatory rollback, which will be controversial with some environmentalists on the left, but not enough to stop or even slow her confirmation.
11/23/20 15:30