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AP source: Biden taps ex-Fed chair Yellen to lead treasury

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WASHINGTON – President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies at a perilous time, according to a person familiar with the transition plans.Yellen, who is widely admired in the financial world, would be the first woman to lead the Treasury Department in a line stretching back to Alexander Hamilton in 1789.

Her nomination was confirmed to The Associated Press by a person who spoke on condition of anonymity to discuss Biden's plans.As treasury secretary, Yellen would face a shaky U.S.

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