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Sunday, Nov 29, 2020

Biden teases Treasury pick as imminent: Here’s who is on the shortlist

Biden teases Treasury pick as imminent: Here’s who is on the shortlist

The president-elect is expected to announce his choice shortly before or after Thanksgiving
President-elect Joe Biden’s team announced on Thursday that he would be announcing his pick for Treasury Secretary around Thanksgiving, with a handful of names believed to have been considered.

Sen. Elizabeth Warren, D-Mass., has received arguably the most attention – with progressive groups pushing Biden to tap her for the role.

However, there have been mounting doubts over whether Warren would make the cut, considering she would vacate a seat in a state where a Republican governor would have control over her interim replacement. The prevailing view is that Democrats may not be able to afford to lose a seat in the chamber, with the partisan power balance at stake.

A Warren ally told FOX Business on Thursday that they are now betting the pick is former Federal Reserve Chair Janet Yellen.

The position, currently occupied by Steven Mnuchin, will be exceedingly important at a time when the economy is battling a coronavirus-induced recession – with a second wave likely to cause more problems over the coming months.

Here’s a look at some of the other names that are believed to be on the shortlist for the Cabinet role:

Former Federal Reserve Chair Janet Yellen

Former Federal Reserve Vice Chair Roger Ferguson

Federal Reserve Gov. Lael Brainard

Federal Reserve Bank of Atlanta President and CEO Raphael Bostic

Former Deputy Treasury Secretary Sarah Bloom Raskin

Former DreamWorks Animation Chair Mellody Hobson

Former Treasury Undersecretary Gary Gensler

Rhode Island Democratic Governor Gina Raimondo
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