Senate panel to meet for Treasury nomination

Published:

On: Jan 2021

The Congressional resources said that the United States, Senate Finance Committee has been planning to schedule a meeting for Friday to determine the nomination of Janet Yellen for the post of Treasury Secretary, gaining the possibility that she could be approved by the full Senate officials later that day.  The new administration of the US president Joe Biden is driving for speedy approval of major cabinet members to boost efforts to combat the coronavirus pandemic and step up forward with economic relief measures.

As the Senate continues to grant nomination of Yellen, yesterday, the Treasury Department called several people to senior Treasury posts that do not need any confirmation from Senate. On Tuesday, Yellen urged lawmakers to perform big on COVID-19 relief spending, arguing that the economic advantages prevail the threats of a larger debt concern.

Until Wednesday evening, the Committee members had to submit extra questions regarding the confirmation hearing of Yellen, placing a burden on her to respond and meanwhile, on the Senate to operate before legislators’ forefront home for the weekend. One of the sources said that a 2nd hearing was unexpected, even though, the former Treasury Secretary, Steven Mnuchin had to sit through the 2nd round of questioning when he was approved in 2017.

Democrats took dominance of the US Senate yesterday when new Vice President Kamala Harris affirmed three members, offering the party a mild seize on both houses of Congress. The first of cabinet nominees of Joe Biden, Avril Haines, grabbed Senate confirmation on Wednesday evening for the post of the national intelligence director.

The leaders of the Senate Finance Committee could vote to finalize the nomination of Yellen as Treasury Secretary at Friday’s meeting, which was included in the calendar late on Wednesday, providing scope for the complete Senate to vote on the nomination before the end of this week or early next. Yellen served as chief of the United States Federal Reserve from 2014 to 2018, which had collected powerful support from former Treasury secretaries, Democrats, and several economists.