Janet Yellen made history on Monday when the Senate confirmed her nomination as secretary of the Treasury by a vote of 84-15.
As treasury secretary, Yellen, 74, would occupy a pivotal role in shaping and directing President Joe Biden’s economic policies. She would enter the position after many years serving in other top economic jobs, including becoming the first woman to serve as chair of the Federal Reserve, from 2014 to 2018.
Since leaving the Fed, Yellen has been a distinguished fellow in residence at the Brookings Institution, a liberal Washington think tank.
According to financial disclosure forms she provided during her confirmation, she collected more than $7 million in speaking fees during more than 50 in-person and virtual engagements over the past two years, including with many Wall Street firms. Yellen has agreed to recuse herself from decisions that would affect certain financial organizations.
The administration urged a quick confirmation vote in the full Senate, saying it’s critical to get the top member of Biden’s economic team in place as the Democratic president seeks to win approval of a $1.9 trillion coronavirus relief plan.