The 84-15 vote to confirm sets in motion a key step forward in the Biden recovery plan
Last night, the Senate confirmed Janet Yellen as Secretary of the Treasury, a cornerstone position in the Biden Administration‘s effort to move the country forward after months of economic challenges triggered by an ongoing global pandemic. Yellen, confirmed in a bi-partisan vote, will be the first woman to hold the position.
Jesse Van Tol, CEO of the National Community Reinvestment Coalition, made the following statement:
“The confirmation of Janet Yellen is an important first step on the road to economic recovery. We consider her both an ally and friend who understands that America’s enduring socio-economic disparities in wealth and opportunity need to be addressed through shifts in public policy and private sector practices. It will be refreshing to have an administration and a Treasury secretary committed to working to create a more just economy. With millions out of work, small businesses struggling to stay afloat, and a mortgage market that does not work for Black and Brown Americans, Janet Yellen’s experience and expertise should help the Biden Administration move quickly to put the country on track towards a just recovery. The Treasury Department will play a critical role in shaping the economic stimulus so desperately needed to keep people in their homes and connected to their jobs and health insurance. Treasury will also help guide the future of the mortgage market and Fannie Mae and Freddie Mac’s role in ensuring access to credit.”