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IPFS News Link • Economy - Economics USA

The U.S. Economy Is Now Run By Women

•, by Tyler Durden

At the top of the helm in President Biden's economic cabinet are numerous women. For example, Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo and trade czar Katherine Tai all collectively help run the economy. Many of President Biden's economic advisors are also women, Reuters noted this week.

The effects of having women in charge of the economy are already being noted. Biden's $2.3 trillion spending plan includes $400 billion of support for jobs that take care of kids and seniors. Treasury Secretary Janet Yellen has pointed to a focus on "human infrastructure". 

Yellen wrote on Twitter:

"In the end, it might be that this bill makes 80 years of history: it begins to fix the structural problems that have plagued our economy for the past four decades. This is just the start for us."

Rebecca Henderson, a professor at Harvard Business School, says women can bring "fresh perspective" to policy: 

"When you're different from the rest of the group, you often see things differently. You tend to be more open to different solutions. We're in a moment of enormous crisis. We need new ways of thinking." 

While women have taken the helm of countries as Presidents and Prime Ministers, "institutions that make economic decisions have largely been controlled by men until recently", the report notes.

Now, women like Christine Lagarde at the ECB, Ngozi Okonjo-Iweala at the WTO and Kristalina Georgieva at the IMF, all call the shots.