Yellen says she ‘certainly’ plans to remain as Treasury secretary

NEW YORK (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said she “certainly” planned to stay on in her job for the duration of President Joe Biden’s term, dismissing speculation she was considering leaving after this month’s midterm elections.

Yellen told an event hosted by the New York Times Dealbook she had no plans to leave Treasury.

“I’m committed to staying,” Yellen said. “I’m excited about the agenda. I’m excited about what President Biden has accomplished so far, and I think there’s more to come.”

Speculation about whether Yellen, 76, will remain in the job has increased in recent months, and the Republican takeover of the House of Representatives is likely to stall the Biden administration’s legislative agenda, including tax and spending proposals that would be administered by Treasury.

Asked if she would stay for the duration of Biden’s term, Yellen said, “I have no plan to leave.”

She said implementing key laws enacted under Biden, including those dealing with climate investments, semiconductor manufacturing and infrastructure, would play a big role in the coming years.

She also said China’s zero-COVID policy was a threat to healing ongoing supply chain difficulties that have sent prices sharply higher, but that she would not give Beijing advice on managing the pandemic.

(Reporting by David Lawder, writing by Andrea Shalal, editing by Deepa Babington)