Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement after speaking with Janet Yellen, President-elect Biden’s nominee for Secretary of the Treasury:

“Today I spoke with Janet Yellen, President-elect Biden’s nominee to be secretary of the Treasury. It’s clear she has the right background and expertise to be an effective steward of our economy.

“During our call, we discussed the need for more economic relief to combat the pandemic and support the nearly 10 million Americans who have lost their jobs since March. Congress must pass substantial relief before the end of the year to prevent even greater job loss and keep businesses from closing for good.

“We also discussed the threat that climate change poses to the stability of our financial system, including in California where the risk of wildfire is driving up insurance rates. She committed to working with me to help keep insurance affordable and available to homeowners and small business owners while working to address climate change more broadly.

“As the former chair of the Federal Reserve, Janet Yellen will bring a steady hand to the Treasury Department. I look forward to working with her on these and many other issues that affect our economy.”