Janet Yellen Finally Resigns?

Janet Yellen, the U.S. Treasury Secretary, has announced her resignation, marking the end of a tenure marked by significant economic turbulence and policy challenges. Yellen’s leadership saw efforts to stabilize the economy post-pandemic and manage record inflation, but her tenure also faced criticism over rising national debt, concerns about fiscal sustainability, and uneven economic recovery despite strong job growth and declining inflation.

Her departure leaves President Biden’s administration tasked with addressing lingering issues, such as ballooning deficits and complex global economic dynamics, including tensions with major trading partners. Yellen’s time at the Treasury will likely remain a subject of debate as analysts assess the long-term impact of her policies.

SEC Chair Gary Gensler and Deputy Also Set to Resign?

Oddly enough, Securities and Exchange Commission (SEC) Chair Gary Gensler has announced his resignation, effective January 20, 2025, coinciding with the inauguration of President-elect Donald Trump. Gensler’s tenure, which began in 2021, was marked by sweeping regulatory efforts, including significant updates to equity and treasury markets, enhanced corporate governance rules, and aggressive enforcement actions in the cryptocurrency sector. His regulatory approach faced considerable criticism, particularly from the crypto industry and Republican lawmakers, who argued it stifled innovation.

The departure of Gensler and his deputy aligns with the traditional practice of SEC leadership stepping down during presidential transitions. Their resignations will provide the incoming administration with the opportunity to reshape the SEC’s agenda and leadership priorities.