WASHINGTON – President-elect Joe Biden said Thursday that he has decided whom he will nominate for Treasury secretary, and that he will make the announcement in the coming weeks.
“You’ll soon hear my choice for Treasury, either just before or just after Thanksgiving,” Biden told reporters in Wilmington, Delaware.
“It’s someone who will be accepted by all elements of the Democratic Party, from the progressive to the moderate coalitions,” he added.
Going into Thursday, Biden’s team had signalled to allies in the business community that he had whittled down his list of options for Treasury secretary to at least three names, according to people briefed on the matter.
The top contenders are economist Lael Brainard, a member of the Federal Reserve Board of Governors; Roger Ferguson, the CEO of TIAA; and Janet Yellen, former chair of the Federal Reserve.
Yellen appears to have approval from both sides of the party. Ferguson, who announced he intends to retire from TIAA in March, wants to return to the federal government. He has experience as vice chairman of the Board of Governors of the Federal Reserve.
This is a developing story, please check back for updates.
