MNI BRIEF: US Senate Confirms Yellen as Treasury Secretary

The U.S. Senate on Monday voted 84-15 to confirm Janet Yellen's nomination as Treasury secretary, where she will begin working with Congress to advance President Joe Biden's priorities including a plan for additional fiscal relief.

At her nomination hearing last week she urged lawmakers to "act big" on fiscal legislation, even as GOP senators show skepticism for additional spending. Yellen also indicated the Biden administration will wait until the economy is stronger before seeking tax increases on wealthier Americans and corporations.

In written responses to the Senate, Yellen also indicated a desire to raise the U.S. minimum wage in phases "giving small businesses plenty of time to adapt." Yellen is the first woman to hold the position, was the first woman Fed chair and the first female to head the Council of Economic Advisers under former President Bill Clinton.