President-elect Joe Biden has been picking his cabinet and he has reportedly tapped former Federal Reserve chair Janet Yellen to be nominated for Treasury secretary.
Yellen would be the first woman to lead the department. She also was the first woman to serve as Fed chair after her Senate confirmation in 2014.
Investors expect more economic stimulus is likely with Yellen as Treasury secretary since she has argued that Congress has to come through with additional aid to help lead a U.S. economy crippled by the coronavirus pandemic.
Jim Cramer reacts to Yellen's reported nomination.