Nomination must be confirmed by the US Senate.
Yellen: Social media shares are too expensive.
The designated US President Joe Biden apparently wants to nominate former Federal Reserve chief Janet Yellen as Treasury Secretary. The “Wall Street Journal” reported on Monday, citing people who were informed about the decision. Biden is currently compiling the list of candidates for his cabinet. He has already announced the first names, but not who he would like to raise to the top of the finance department.
In addition to Yellen, Fed director Lael Brainard, the head of the Atlanta central bank, Raphael Bostic, and former Fed director Sarah Bloom Raskin were also considered candidates for the key post. Biden's selection must be confirmed by the Senate.
