They Are Getting Set to Move In Wall Street's Grandma

Janet Yellen

She belongs in an attic somewhere but she will most likely become the next U.S. Treasury Secretary.

The Senate Finance Committee is set to hold a hearing on Janet Yellen’s nomination to be Treasury secretary on Jan. 19, the day before President-elect Joe Biden is inaugurated, according to a Senate aide, The Wall Street Journal reports.

Expect her to glide through the confirmation process. Political Wall Street is very comfortable with her.

If they need money in any future crisis, she will most certainly write a check from the Treasury account.

Hell, she will probably write checks in support of the favored even if there isn't a crisis.

Wall Street's political grandma, 74 years old, will not say no.

If she is confirmed, Wall Street's crazy grandma would become the first person to have headed the Treasury, the Federal Reserve and the White House Council of Economic Advisers.

It will be interesting to see how she will handle things as price inflation heats up and the dollar starts to crash on foreign exchange markets.

-RW