An ‘iron lady’ to negotiate the new stimuli of the pandemic | The State
The world’s economy is in the hands of a New York lady. Janet louise yellen this week she became the first woman to be head of the United States Secretary of the Treasury. A powerful position held only by men in 123 years of history.
With her kind smile, Janet Yellen reminds us of the strength and kindness of matron grandmothers who were like iron ladies, only that a lot of the economic future of Latin America depends on her, because their decisions affectton up to the price of the dollar and remittances to help families in our countries.
Hispanics must bet on his management and we hope that he does well, Because of his wisdom in the negotiations with Republicans and Democrats depends the approval of the ambitious economic agenda of President Joe Biden, also of the Nation’s budget and that there are new stimulus checks to withstand the coronavirus pandemic.
And it is good that we keep track of their performance because their decisions will be felt in everyone’s pocket due to the unemployment crisis, with the threat of increasing inflation, the cost of loans, or interest for purchases of housing.
This Brookings Institute economist, PhD at Yale University and professor emerita at Berkeley University, has bipartisan support as she was confirmed in office by 84 votes to 15, in a vote that seemed more complicated because the debate to the trial of Donald Trump.
Yellen has been dealing with economic problems such as the 2008 financial crisis for years. She was the White House Economic Affairs Advisor to Bill Clinton, where Barack Obama appointed her to replace Ben Bernanke.
And in the presidency of the Fed, she also made history as the only woman to lead the threads of power at the Federal Reserve Bank, although Donald Trump did not allow her to complete her second term and with such tenacity, Forbes called Yellen the second most powerful woman in the world, barely surpassed by German Chancellor Angela Merkel.
In his confirmation hearing for the Secretary of the Treasury before the Senate, Yellen defended the theory that the country’s economy has room to approve more stimuli, without worrying about inflation, because the important thing is economic recovery. In the Fed, inflation was their number one enemy.
Let us trust that he is right and his tenacity helps us to endure this crisis.