Brooklyn-born Janet Yellen was confirmed Monday as the nation’s first female secretary of the Treasury. The confirmation vote was 84-15 with one abstention.
President Joe Biden nominated her for the post in November.
Yellen, who was the chairperson of the Federal Reserve from 2014 to 2018, graduated as valedictorian from Fort Hamilton High School in 1963 and was elected to the school’s Hall of Fame in 1993.
“Fort Hamilton H.S. was named after the country’s first Treasury secretary, so how amazing is it that the class of 1963’s valedictorian has now been named to that position?” said Valerie Hodgson, president of the Fort Hamilton H.S. Alumni Association. “Janet Yellen continues to make all Fort alumni proud as she’s confirmed with strong bipartisan support, befitting her accomplishments and abilities.”
“I am so proud that the Senate will confirm Dr. Janet Yellen to be the first woman to ever hold the position of Treasury secretary,” said Senate Majority Leader Charles Schumer. “She’s a native of working-class Brooklyn, and no one has more experience for this job.”
During her confirmation hearing before the Senate Finance Committee on Jan. 19, Yellen discussed Biden’s proposed $1.9 trillion economic rescue package.
“Neither the President-elect nor I propose this relief package without an appreciation for the country’s debt burden,” Yellen said. “Right now, with interest rates at historic lows, the smartest thing we can do is act big. In the long run, I think the benefits will outweigh the costs, especially if we care about helping people who have been struggling for a long time.”