Biden’s Cabinet – Who Will Become the New US Treasury Secretary ?

US President-elect Joe Biden began the transition and process of forming a new administration… The News York Times named candidates for of the United States Treasury Secretary, whose department is responsible, among other things, for the country’s sanctions policy.

For of Chief Treasurer of the United States, according to newspapers, several people apply:

Raphael Bostic

He is the first African American and the first openly gay to head a regional Federal Reserve bank in Atlanta. He previously worked as an economist at the Federal Reserve and served as a board member at Freddie Mac.

Bostic is famous for his argument that systemic racism is damaging to the economy as a whole. Not a single black person has ever served as Treasury Secretary.

Lael Brainard

She is a member of the Board of Governors of the Federal Reserve System and a former Deputy Treasury Secretary. Brainard warned that the economic risks posed by the coronavirus are not over yet.

Lael Brainard also called on the Fed to focus on climate change and its impact on the economy. Brainard is seen as a moderate candidate. She was criticized by the left for not wanting to take a tough course on currency manipulation.

Sarah Bloom Raskin

She is a former Deputy Treasury Secretary and a former member of the Fed’s Board of Governors.

Sarah Bloom Raskin also previously served as Commissioner for the Maryland Financial Regulator. She is a lawyer and a visiting professor at Duke University.

Elizabeth Warren

Favorite of progressive groups, Senator from Massachusetts, presidential candidate, and former adviser to Barack Obama. Warren has spent her career advocating for pro-consumer financial reforms and tighter banking regulations.

Elizabeth Warren spearheaded the creation of the Bureau of Consumer Financial Protection, a federal oversight agency, and was among those believed to be Biden’s aides. Given her progressive stance, Warren’s candidacy in the Republican-controlled Senate cannot be guaranteed.

Janet L. Yellen

She is best known for her work as head of the Federal Reserve from 2014 to 2018. Yellen was also president of the Federal Reserve Bank of San Francisco and chairman of the White House Council of Economic Advisers under President Bill Clinton.

She is an economist who believes that government regulation and intervention is necessary to ensure that markets work effectively.

On the evening of November 7, it became known about the victory of Joe Biden who, together with Pennsylvania, received 273 electoral votes.