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Janet Yellen Says There’s ‘No Truth’ to Reports of Her Leaving Office Soon

Janet Yellen Says There’s ‘No Truth’ to Reports of Her Leaving Office Soon By Bloomberg

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Economy 2 minutes ago (Oct 04, 2022 19:14)

© Reuters.

(Bloomberg) — Treasury Secretary Janet Yellen on Tuesday dismissed speculation that she plans to depart from her post in the near future.

“There is no truth to that,” Yellen said at an event in Washington Tuesday when asked about reports that she may soon be leaving the Biden administration.

A report last week from Axios said that White House staff were preparing for the potential departure of both Yellen and White House National Economic Council Director Brian Deese. Bloomberg later reported that Yellen had told White House officials she’s prepared to remain Treasury secretary well after the midterm elections in November, citing people familiar with the discussions.

Yellen, 76, is keen to continue pursuing several priorities, including an international price cap on some Russian oil exports and an $80 billion modernization of the Internal Revenue Service, the people said.

Deese also said last week that he doesn’t plan to leave his post.

Yellen’s remarks came at the Freedman’s Bank Forum, an annual conference at the Treasury Department on economic inequality and the racial wealth divide in the US.

(Updates with context starting in fourth paragraph.)

©2022 Bloomberg L.P.

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