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Biden names Janet Yellen as his Treasury secretary

Monday, 30 November 2020 4:04 PM [ Last Update: Monday, 30 November 2020 4:04 PM ]

Former Federal Reserve chairwoman Janet Yellen

The projected winner of the disputed US election, Joe Biden, has named former Federal Reserve chairwoman Janet Yellen as his nominee for Treasury secretary.

"Janet Yellen is nominated to serve as Secretary of the Treasury. If confirmed, she will be the first woman to lead the Treasury Department in its 231-year history," Biden's transition team said in a statement issued on Monday.

Biden announced Yellen's nomination along with several other officials who would join his administration's economic team once he takes office in January next year.

Yellen, a 74-year-old fellow at the Brookings Institution, would be the first woman to serve as Treasury secretary.

Biden tapped Neera Tanden as his budget director and Cecilia Rouse as chairwoman of the Council of Economic Advisers.

"As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever," Biden said in a statement.

"This team is comprised of respected and tested groundbreaking public servants who will help the communities hardest hit by COVID-19 and address the structural inequities in our economy. They will work tirelessly to ensure every American enjoys a fair return for their work and an equal chance to get ahead, and that our businesses can thrive and outcompete the rest of the world," Biden said.

The US economy has struggled since the COVID-19 outbreak earlier this year. The country has seen a sharp contraction in growth and tens of millions of job losses.

The US has surpassed 13.4 million coronavirus cases and 267,000 deaths. The number of coronavirus-related hospitalizations have also reached an all-time high of more than 91,000, with more than 18,000 people in the intensive care unit.

Biden has accused Trump of mishandling the pandemic, saying that the president had quit fighting the pandemic.

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So far, Trump has refused to concede defeat in the election and mounted multiple legal challenges to reverse the results in several key states. Biden was declared the projected winner.

However, his campaign’s efforts have so far met with little success in the courtroom or on the ground.

The court decision paved the way for Pennsylvania to certify Biden's victory there. On Monday, Pennsylvania certified Biden, who won the state’s popular vote, as its winner.

Biden won the state-by-state Electoral College votes, which decide who takes the White House, by 306 to 232, according to media reports.

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