Washington—Senator Dianne Feinstein (D-Calif.) today spoke in the Senate Finance Committee confirmation hearing in support of the nomination of Janet Yellen to be secretary of the Treasury Department.
“I’ve known Janet since she became president of the Federal Reserve Bank of San Francisco in 2004. She’s been a professor, now emeritus, at the University of California-Berkeley since 1980, that’s 40 years.
Janet has an impressive record. She served twice on the Federal Reserve Board of Governors and was the first woman to chair the Fed from 2014 to 2018.
She also served as chair of the Council of Economic Advisors under President Clinton and she is currently professor emeritus at the University of California-Berkeley as well as a distinguished fellow at the Brookings Institution.
Some have joked Janet’s husband of 42 years, George, won the Nobel Prize in Economic Sciences, yet he is regarded by many as the second-most accomplished economist in his own home.
It can be said that all of these accomplishments did not come easily for a woman in the male-dominated field of economics. Out of 24 students who received doctorates in economics from Yale in 1971, Janet was the only woman. And she has been a trailblazer her entire career.
Now, she brings to us the experience and leadership needed at the Treasury Department at this critical juncture.
I believe that Janet Yellen really understands that the economy is not an abstract series of charts and figures but a collection of real individuals, families, communities and businesses who need help now.
There are many reasons that Janet received bipartisan praise when President-elect Biden announced her nomination in December. For one, her deep policy expertise matches her understanding of the impact of economic policy on people. She is also a pragmatic and steady hand who recognizes the need for fiscal discipline.
In short, she is the ideal candidate to head Treasury at a time when we can afford nothing less. So I urge and hope this committee will rapidly approve her nomination.”