Outgoing Treasury Secretary Janet Yellen voiced her worries about the nation's fiscal health during the Wall Street Journal's CEO Council Summit. Responding to a question about the substantial budget deficit left by the Biden administration, Yellen acknowledged her concern and desire for greater progress in deficit reduction. She emphasized the importance of addressing the deficit, particularly in the current economic landscape of rising interest rates.
The image depicts President Biden and Secretary Yellen during a White House Cabinet meeting on June 6, 2023.
Yellen's tenure as Treasury Secretary under President Biden coincided with a continued surge in the national debt, exceeding $36 trillion. Despite this, Yellen, in a post on X (formerly Twitter), highlighted the strength of the U.S. economy, citing a robust labor market and steady economic growth. She attributed this positive economic performance to the leadership of President Biden and Vice President Harris.
This image shows Yellen addressing reporters at a Treasury Department news conference on October 22, 2024.
Following the 2024 presidential election, in which former President Trump defeated Vice President Harris, President-elect Trump appointed Scott Bessent as the incoming Treasury Secretary, praising Bessent's international investment and geopolitical expertise.
This final image captures Yellen speaking at a Treasury Department event on November 21, 2024.
Prior to her role in the Biden administration, Yellen served as the Chair of the Federal Reserve Board of Governors from 2014 to 2018.
