WILMINGTON, Del. – Today, U.S. Senator Tom Carper (D-Del.) released the following statement regarding President-elect Joe Biden’s nomination of Janet Yellen to serve as Secretary of the Treasury.
“This year, millions of families have fallen on hard times through no fault of their own. As a result of the coronavirus pandemic, breadwinners have been out of work. Too many small business owners have been forced to close their doors. Parents have struggled to pay for necessities at the super market, while our President focuses solely on the stock market. We desperately need leaders who can help workers and families recover, build an economy that works for all Americans and put us on a more equitable and sustainable fiscal path going forward. President-elect Biden knows exactly what it takes to lead our country out of an economic crisis and, in Janet Yellen, he has found a partner who has the brilliance, the decades of experience and the gravitas needed to lead a successful recovery now.
“The selection of Janet Yellen to lead the Treasury Department is historic, but also pitch perfect for this moment. A trailblazer throughout her life, Janet Yellen was the first woman to lead our central banking system as Chair of the Federal Reserve, where she was widely regarded as a steady hand who helped to continue our economic recovery in the wake of the Great Recession. Now, she would be the first woman to lead the Treasury Department in its long 231-year history, and the only person to have served as Treasury Secretary, Chair of the Council of Economic Advisers, and Chair of the Federal Reserve. A decorated economist and renowned academic, it would be nearly impossible to find any individual more qualified for this position. And it would be even more difficult to find a nominee who is so well respected across the board, from progressives to Republicans alike.
“In addition to her impeccable credentials, Janet Yellen has long been sounding the alarm on climate change. An early supporter of the Kyoto Protocol and a member of the Climate Leadership Council, Yellen has been making the economic case for mitigating the risks posed by climate change since the 1990s. As Treasury Secretary, she would have the authority to advance an ambitious climate agenda and the unique ability to ensure that corporations take the existential threat of climate change seriously. I look forward to working with her and the entire Biden Administration to ensure that this is, once again, a top priority across the federal government.
“Janet Yellen would be an excellent choice for Treasury Secretary in a time of prosperity, but she is an extraordinary pick for the moment in which we find ourselves right now. We are lucky that she is willing to continuing serving our country in such a crucial role.”