Yellen, the former Federal Reserve Chairwoman, is expected to be Biden’s nominee to become the next Treasury secretary.
The pick will be historic. If confirmed by the Senate, Yellen would become the first woman to hold this position. Already being the first woman to lead the Federal Reserve, she would also become the first person ever to lead the Treasury, the central bank, and the White House Council of Economic Advisers.
What's on her agenda?
Other things on the list: Biden’s incoming tax hikes, America’s relationship with China, international sanctions...the list goes on.
An important asset for Biden is her relationships with foreign finance ministers and central bankers, as Biden is looking to strengthen ties with allies.
Investors are clearly positive about the decision and the prospect of greater fiscal stimulus under Yellen, with US stocks trending higher on Tuesday, and oil prices at the highest level since March.