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AmericasFebruary 24 2021

Non-bank risk joins China and climate on Yellen’s to-do list

On top of climate concerns and rivalry with China, the new US treasury secretary has oversight of hedge funds and other non-bank financial institutions in her sights.
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Non-bank risk joins China and climate on Yellen’s to-do list

As US treasury secretary, Janet Yellen epitomises the centre-left views of the new US administration. Her confirmation also heralds the breaking of not one but two glass ceilings, as she was also the first woman to head the Federal Reserve (Fed), the US central bank. 

Ms Yellen has invaluable experience when it comes to tackling the economic recovery in the aftermath of the Covid-19 pandemic, having helped steer the US out of the recession that followed the 2008 financial crisis — first as Fed vice-chair from 2010-2014 and then as head of the monetary authority from 2014-2018.   

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