Updated: March 2, 2021
President-elect Joe Biden will nominate Janet Yellen to be his treasury secretary, multiple reports said on Monday, quoting people familiar with the decision.
If confirmed, Yellen, who served for one term as the chair of the Federal Reserve, would be the first female treasury secretary in its 231-year history.
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Ms. Yellen, who is 74 years old, brings decades of experience to the Biden team amid a coronavirus pandemic that has devastated the economy.