Commentary

No better person than Yellen to head US Treasury

Ex-Fed chair has policy chops and political savvy to steer country through slowdown

Dr Janet Yellen, seen in a 2017 file photo, led the US Fed during the arduous climb back from the global financial crisis. Throughout her term, she showed that what happens abroad has direct consequences for American capitalism. PHOTO: AGENCE FRANCE-
Dr Janet Yellen, seen in a 2017 file photo, led the US Fed during the arduous climb back from the global financial crisis. Throughout her term, she showed that what happens abroad has direct consequences for American capitalism. PHOTO: AGENCE FRANCE-PRESSE

Dr Janet Yellen knows a deep recession and a patchy recovery from the inside. She will need all that policy prowess and a healthy dollop of political savvy to steer the United States, and by default the rest of the world, through this epic slowdown.

The former Federal Reserve chair is President-elect Joe Biden's pick for Treasury Secretary, according to people familiar with the matter. She is probably the most qualified person to ever hold the post.

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A version of this article appeared in the print edition of The Straits Times on November 25, 2020, with the headline 'No better person than Yellen to head US Treasury'. Subscribe