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Politics GOP Senator Suggests He May Oppose Biden's Treasury Pick, Says He 'Voted Against' Yellen for Fed

19:20  25 november  2020
19:20  25 november  2020 Source:   newsweek.com

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Biden to choose Janet Yellen for Treasury secretary. The GOP transition support -- from Sens . Lamar Alexander of Tennessee, Shelley Moore Capito of West Virginia and Bill Cassidy of Louisiana -- paired with the GSA letter, amount to a considerable turning point against President Donald Trump' s

Janet Yellen has had a long and distinguished career as an economist, from the halls of academia to the Her next job, as Neil Irwin suggests at The Upshot, may be her toughest one yet. Yellen is reported to be President-elect Joe Biden ’ s pick for Treasury secretary, meaning she will have a key

Senator John Barrasso, a Wyoming Republican, suggested that he may oppose President-elect Joe Biden's Treasury Secretary nominee Janet Yellen.

Janet Yellen sitting at a table using a laptop: Federal Reserve Chair Janet Yellen speaks during her last news conference in office on December 13, 2017 in Washington, D.C. © Alex Wong/Getty Federal Reserve Chair Janet Yellen speaks during her last news conference in office on December 13, 2017 in Washington, D.C.

Although Biden has not officially announced Yellen to lead the Treasury Department, her expected nomination was first reported by The Wall Street Journal on Monday and later confirmed by multiple news outlets. Yellen served as the chair of the Federal Reserve under former President Barack Obama and under President Donald Trump, from 2014 until 2018. However, some Republicans, including Barrasso, opposed her nomination to that post as well.

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President-elect Joe Biden ’ s pick for Treasury was at the Fed for the better part of two decades, and saw first-hand how vital the cooperation of the two He noted in last week’s response to Mnuchin that Exchange Stabilization Funds were available to the Treasury secretary should a Fed facility need a

As President-elect Joe Biden started rolling out his administrative team, one voice has been notably silent: Senate Majority Leader Mitch McConnell. In announcing his national security team, Biden appealed Tuesday to the Senate to give the nominees “a prompt hearing" and "begin the work to heal

"I voted against her when she was brought up to be confirmed for the Federal Reserve," Barrasso, chair of the Senate Republican Conference, responded during a Wednesday interview with CNBC's Squawk Box, when asked if he'd vote against Yellen's nomination to lead the Treasury Department. "Everybody nominated after the inauguration in January is going to have to come for hearings, testify, answer questions and we'll make decisions at that time," he said.

Barrasso said that Trump "was blockaded" by Democrats "every step along the way to get his people and this Cabinet nominated." He said it was "obstruction all the way by the Democrats."

In order to confirm Cabinet appointees, Biden will need the support of 51 senators. If there is a tie, Vice President-elect Kamala Harris will cast the deciding vote. With two Senate runoffs taking place in Georgia on January 5, it's still unclear which party will control the upper chamber of Congress. If Democrats win both the Georgia races—a difficult undertaking in a historically conservative state—the Senate would be evenly split, 50 to 50.

When Yellen's confirmation vote to chair the Federal Reserve was held in January 2014, 26 Republicans voted "nay" while multiple others—including Senate Majority Leader Mitch McConnell, a Kentucky Republican who was minority leader in 2014—did not vote. Although many of those GOP opponents remain in the Senate, other moderate Republicans such as Senators Susan Collins of Maine and Lisa Murkowski of Alaska voted to confirm Yellen. How her confirmation to the Treasury Secretary post will play out next year remains to be seen.

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BIDEN ' S TEAM: Biden is preparing to formally announce his national security team to the nation. Awaiting Yellen at Treasury : Yet another daunting crisis. Biden names climate statesman John Kerry as climate envoy. Carl Bernstein says 21 GOP senators contemptuous of Trump.

GOP senator has "no doubts" about Biden treasury secretary nominee's "integrity or technical expertise". Meadows said he had appointed liaisons in each office to be the point of contact and said that person should deal Biden ' s pick for director of national intelligence, Avril Haines, a former top

Democrats are concerned that McConnell and Senate Republicans will be able to successfully block the Biden administration's agenda if they retain control of the upper chamber of Congress. McConnell has declined to even hold votes on many pieces of legislation passed through the Democrat-controlled House of Representatives—preventing them from moving forward in the legislative process.

It appears unlikely that McConnell would have enough votes to prevent Biden from securing key Cabinet appointments, as at least several moderate Republicans would be expected to approve them. But Democrats and Republicans are both touting the importance of the two Senate runoffs in Georgia—with GOP lawmakers arguing they need the seats to block the president-elects agenda and Democrats saying they are vital for success in Biden's first two years.

Newsweek reached out to Biden's transition team and Senate Majority Leader Mitch McConnell, a Kentucky Republican, for comment, but they did not immediately respond.

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Biden set to announce his economic team led by Janet Yellen, who face a dark winter outlook, split Congress .
President-elect Joe Biden is set to announce his economic team Tuesday. What proposals can they push through a split Congress?Analysts expect stiff resistance from a split Congress whose Republicans are reluctant to further swell the massive deficit.

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