Biden to Nominate Janet Yellen for Treasury Secretary

Bloomberg Quicktake: Now published this video item, entitled “Biden to Nominate Janet Yellen for Treasury Secretary” – below is their description.

President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen to serve as his Treasury secretary, a move that would put the first woman and a seasoned central banker into the nation’s top economic policy job, people familiar with the matter said. Biden on Monday tapped Obama administration veterans for top national security positions, signaling a stark shift from the Trump administration’s “America First” policies that disparaged international alliances, career diplomats and other veteran government officials. The six picks, including former Secretary of State John Kerry, mark a return to a more traditional approach to America’s relations with the rest of the world and reflect Biden’s campaign promises to have his Cabinet reflect the diversity of America. In choosing foreign policy veterans, Biden appears to be seeking to upend Trump’s war on the so-called “deep state” that saw an exodus of senior and mid-level career officials from government, notably from the ranks of the State Department and National Security Council, including some who were fired for voicing opposition to the president’s moves. Biden will nominate his longtime adviser Antony Blinken to be secretary of state, lawyer Alejandro Mayorkas to be homeland security secretary, Linda Thomas-Greenfield to be ambassador to the United Nations. Avril Haines, a former deputy director of the CIA, will be nominated as director of national intelligence, the first woman to hold that post. The incoming president will also appoint Jake Sullivan to be his national security adviser and Kerry to be his climate change envoy. Those posts do not require Senate confirmation. The choices reflect Biden’s emphasis on developing a diverse team with Thomas-Greenfield, a Black woman, at the helm of the U.S. Mission to the United Nations, and Mayorkas, a Cuban-American lawyer who will be the first Latino to lead Homeland Security. Thomas-Greenfield previously served in high-level State Department positions and Mayorkas was a deputy Homeland Security secretary under Obama. They “are experienced, crisis-tested leaders who are ready to hit the ground running on day one,” the transition said in a statement. “These officials will start working immediately to rebuild our institutions, renew and reimagine American leadership to keep Americans safe at home and abroad, and address the defining challenges of our time — from infectious disease, to terrorism, nuclear proliferation, cyber threats, and climate change.” In making the announcements, Biden moved forward with plans to fill out his administration even as Trump refuses to concede defeat in the Nov. 3 election, has pursued baseless legal challenges in several key states and has worked to stymie the transition process. The stakes of a smooth transition are especially high this year because Biden will take office amid the worst pandemic in more than a century, which will likely require a full government response to contain. “If confirmed, this is a mission I will take on with my full heart,” said Blinken who would take over the nation’s oldest Cabinet agency and be fourth in line for the presidency. Thomas-Greenfield — a career diplomat for more than 30 years serving as ambassador to Liberia, director general of the foreign service and assistant secretary of state for African affairs before being pushed out early in Trump’s presidency — paid tribute to her mother in accepting the nomination. “My mother taught me to lead with the power of kindness and compassion to make the world a better place,” she said in a tweet. “I’ve carried that lesson with me throughout my career in Foreign Service — and, if confirmed, will do the same as Ambassador to the United Nations.” Perhaps the best known of the bunch is Kerry, who made climate change one of his top priorities while serving as Obama’s secretary of state during which he also negotiated the Iran nuclear deal and the Paris climate accord. Trump withdrew from both agreements, which he said represented a failure of American diplomacy in a direct shot at Kerry who he called the worst secretary of state in U.S. history. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake

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