CBK Governor Patrick Njoroge congratulates Janet Yellen, first female US Treasury secretary

Janet Yellen
Janet Yellen, the confirmed US Treasury secretary with CBK Governor Dr Patrick Njoroge. [Photo: Courtesy]

The Central Bank of Kenya (CBK) Governor Patrick Njoroge has sent a heartwarming message Janet Yellen, the first female US Treasury secretary.

Yellen was overwhelmingly confirmed by the Senate on Monday in what has become a historic scenario under the new administration led by US President Joe Biden.

She garnered 84 votes and only 15 US Senators – all Republicans – were opposed to her new role as the US Treasury secretary.

Njoroge in his message on Twitter celebrated Yellen saying she is an embodiment of zealousness among women in finance.

Twitter “Thrilled by @JanetYellen‘s confirmation as the first female US Treasury secretary! A great economist and human being. A trailblazer for central bankers as well as women in finance. Welcome back.”

Democratic Senator Dianne Feinstein according to Reuters termed Yellen’s appoint a huge milestone.

“Secretary Yellen’s confirmation shatters another glass ceiling. In a field dominated by men, it’s refreshing to finally see a woman leading the Treasury Department,” Feinstein stated.

Yellen is yet to be sworn in. The White House has remained non-committal on when she will be sworn into office.

Yellen now 74 served as the first woman chair of the Federal Reserve under Barrack Obama’s administration in 2014.

The daughter of a medical daughter born and brought up in Brooklyn, New York will have her first assignment being the thorny issue of coronavirus relief and reviewing a necklace of sanctioned policies issues by the US in previous administrations.

She will also focus on strengthening financial regulation in the US.

Biden has proposed a $1.9 trillion coronavirus aid plan which has raised voices of dissent from Republicans.

Yellen is expected to work closely with Congress in the realization of Biden’s $2 trillion investment in education, research, infrastructure and green energy projects.

To raise the $2 trillion, Biden hopes Congress will approve proposals to increase corporate tax to 28 per cent from the current 21 per cent.

Also, the proposal on taxing more from US nationals who earn $400,000 every year.

Biden’s proposals will be writing off tax cuts instituted by Donald Trump’s administration in 2017.