Janet Yellen Reacts To Speculations Of Her Exit From Treasury After Midterm Elections: 'No Truth To That'

Treasury Secretary Janet Yellen has reportedly denied unconfirmed news which said President Joe Biden would replace her post the November mid-term elections. Yellen, who spoke on a panel interview during the Treasury’s annual Freedman’s Bank Forum in Washington, said she plans to stay on as head of the agency.

“There is no truth to that,” Yellen told moderator and MSNBC host Jonathan Capehart, according to a report on CNBC.

Also Read: Janet Yellen Says US Monitoring UK Developments, Both Countries Share Inflation Woes

Resignation Calls: Republicans have been demanding Yellen’s resignation or firing since ever she stated in a June interview that she was wrong about the direction of inflation, the report said.

News outlet Axios reported on Sept. 28 that White House officials are quietly preparing for the potential departure of Yellen post the midterms. Yellen’s potential departure would give the U.S. President an opportunity to calm public concerns over his handling of the economy, as per the report.

White House’s Take: On being questioned about the matter, White House Press Secretary Karine Jean-Pierre stated in a press briefing on Sept. 28 that while the government is prudently planning for potential transitions after the midterm elections, neither Secretary Yellen nor Brian Deese is part of those plans. Deese is the director of the White House National Economic Council.

Despite the reports of her potential departure from the post, what is interesting is the fact that Yellen traveled the country promoting the Bipartisan Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act as the major tenets of the economic recovery.

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