Hagerty Votes to Confirm Yellen as Treasury Secretary

January 25, 2021

WASHINGTON – United States Senator Bill Hagerty (R-TN) today voted to confirm Janet Yellen as the next Secretary of the Treasury.

“Our nation is in the midst of an economic recovery, and the Treasury Department should have competent, steady leadership,” said Senator Hagerty. “I spoke with many Tennesseans before today’s vote and despite several policy disagreements, Janet Yellen brings decades of financial markets experience, can provide the pragmatic stability that our economy needs, and will continue to implement the stimulus package the previous administration already launched that is providing assistance to those struggling. She has also rightly acknowledged the need to take on China’s abusive, unfair, and illegal practices, as well as a preparedness to use the Treasury Department’s full array of tools to hold them accountable.”

Before today’s bi-partisan vote, Hagerty engaged industry leaders across Tennessee to gather their perspective on the nominee. One of those groups was the Tennessee Bankers Association who released the following statement after today’s vote:

“The Tennessee Bankers Association applauds Senator Hagerty for voting to confirm Janet Yellen to be Secretary of the Treasury. Banks and banks’ customers across our state can rest assured that the Senator voted today with their best interest in mind. Dr. Yellen will provide critical leadership for our financial markets and ongoing economic recovery,” said Colin Barrett, President of the Tennessee Bankers Association.

Hagerty also sought the counsel of many respected conservative economists, including Dr. Arthur B. Laffer. Laffer released the following statement:

“Janet Yellen is not the person Bill Hagerty would have selected, but he rightly recognizes Dr. Yellen’s competency and deliberate approach to protecting our economic security. The Senator wants to get things done for his citizens, and I have no doubt that he will develop an accountable, working relationship with the new Secretary of the Treasury,” said Dr. Arthur B. Laffer.