Janet Yellen Confirmed as Treasury Secretary

Washington DC - The US Senate voted to confirm Janet Yellen as Secretary of Treasury.

Eric LeCompte, the Executive Director of the religious development group Jubilee USA Network and who works closely with US Treasury, releases the following statement on the confirmation of Treasury Secretary Janet Yellen:

"Beyond being the first female Treasury Secretary, Yellen is the first person to serve in the trifecta of US finance. 
"She chaired the president's Council of Economic Advisers, the Federal Reserve and now takes the helm of Treasury.

"Yellen is the Treasury Secretary we need to confront the severe economic impacts spurred by the coronavirus.

"During her Senate confirmation, she clearly articulated that too many working people, poor people and people of color are experiencing the worst economic impacts of the pandemic.

"Her proven track record is the experience we need to combat growing inequality and argue for big stimulus packages going forward.

"Yellen knows that significant stimulus is urgently needed now to grow our economy and address poverty and inequality.

"Yellen is in lockstep with current Fed analysis that stimulus must move forward quickly.

"She will need to take these strong domestic positions on stimulus policies and apply them on a global level as the developing world faces lost decades of development.

"I have no doubts that she will work well with the IMF, G7 and G20 to promote global stimulus and financial crisis resolution processes.

"Janet Yellen advocates stronger policies to address the intersection of economic issues and climate change.

"Yellen has strong views on tackling tax evasion and corruption in our financial system."