Anyone who was worried about the economic team being put together for the president-elect by Gary Gensler and Ted Kaufman, uh, needn’t have been.
President-elect Joe Biden plans to nominate former Federal Reserve Chairwoman Janet Yellen, an economist at the forefront of policy-making for three decades, to become the next Treasury secretary…. In one speech last year to a housing trade group, she warned higher taxes might not be enough to put programs such as Social Security and Medicare on solid footing, warning of painful trade-offs. “This is root canal economics,” she said.