WASHINGTON (Reuters) – Janet Yellen, nominated by President-elect Joe Biden as head of the U.S. Treasury, knows the importance of taking swift and meaningful steps to support the U.S. economy, the committee’s top Democrat told her. hearing for appointments.
“The good news is that President Yellen knows that going small with economic relief would be a big mistake,” he said at a hearing for former Federal Reserve Chairman Ron Wyden, a committee-ranking Democrat.
Wyden said no one deserved more credit than Yellen for the longest economic expansion in US history, and said it should be confirmed on the first day of the Biden administration.
Reporting by Andrea Shalal and David Lawder, editing by Franklin Paul