Yellen will remain Treasury secretary heading into the Biden administration’s third year

Yellen will remain Treasury secretary heading into the Biden administration’s third year




CNN
 — 

Treasury Secretary Janet Yellen plans to stay in her Cabinet role heading into the third year of the administration, a decision she conveyed to President Joe Biden during a December conversation, according to two White House officials.

Biden welcomed Yellen’s desire to stay, which comes as the administration enters the critical moment of implementing Biden’s sweeping legislative wins of his first two years.

Yellen, in the final months of last year, repeatedly expressed her desire to oversee Treasury’s central role in that effort – a process that officials say Biden has repeatedly stressed to senior officials inside his administration must be carried out successfully in the months ahead.

Still, as Biden’s top economic official, Yellen drew some of the criticism for the soaring inflation that plagued much of the administration’s second year in office,

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