President-elect Joe Biden is planning to nominate Janet Yellen to head the Treasury Department.
Business Insider reports if the US Senate confirms Yellen, she will be the first woman to hold the job.
Yellen served as Fed Chair during President Barack Obama's second term, from 2014 to 2017.
President Donald Trump replaced her with Jerome Powell as head of the Fed.
If confirmed, Yellen will face an immense set of challenges, including the pandemic, unemployment, and widespread housing and food insecurity.
With both parties fiercely divided on its size and reach for months, Congress still hasn't approved a second coronavirus economic aid package.
