US Senate confirms Janet Yellen to be next Treasury Secretary

The US Senate has confirmed Janet Yellen to be the next Secretary of the Treasury Department after the Senate on Monday voted 84-15 in favour of her nomination.

"The bipartisan support for Ms Yellen's multiple nominations reflects her breathtaking range of experience and just how well suited she is to manage the economic challenges of our time," said Senate Majority Leader Charles Schumer before Yellen was confirmed, as quoted by The Hill.

Yellen is the first woman to serve as Treasury Secretary. She previously served as the first-ever female Chair of the Federal Reserve from 2014 to 2018. Yellen was often publicly rebuked for her cautious financial policies by former President Donald Trump.

Throughout her career, Yellen has been an advocate of using economic policy to close racial and gender gaps, The Hill reported. Moreover, she also favours policies to address climate change.

( With inputs from ANI )