Yellen Confirmed As Biden's Treasury Secretary Pick

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Just as expected, WSJ has confirmed, according to people familiar with the decision, Joe Biden plans to nominate former Fed Chair Janet Yellen, an economist at the forefront of policy-making for three decades, to become the next Treasury secretary.

"There is a huge amount of suffering out there. The economy needs the spending," Ms. Yellen said in a Sept. 28 interview.

If confirmed by the Senate, Ms. Yellen would become the first woman to hold the job. She will also become the first person to serve as Fed chair, Treasury chief and the head of the White House Council of Economic Advisors.

While Joe Biden is busy filling up his cabinet with distinguished members of Obama's deep state ensuring years of warfare, at least one presidential coup in a Russia-neighboring nation and record prices for offense defense stocks, the only question that matters for traders is who head Biden's Treasury secretary.