President-elect Joe Biden’s team announced on Thursday that he would be announcing his pick for Treasury Secretary around Thanksgiving, with a handful of names believed to have been considered.
Sen. Elizabeth Warren, D-Mass., has received arguably the most attention – with progressive groups pushing Biden to tap her for the role.
However, there have been mounting doubts over whether Warren would make the cut, considering she would vacate a seat in a state where a Republican governor would have control over her interim replacement. The prevailing view is that Democrats may not be able to afford to lose a seat in the chamber, with the partisan power balance at stake.
A Warren ally told FOX Business on Thursday that they are now betting the pick is former Federal Reserve Chair Janet Yellen.
The position, currently occupied by Steven Mnuchin, will be exceedingly important at a time when the economy is battling a coronavirus-induced recession – with a second wave likely to cause more problems over the coming months.