Axios with the info:

  • White House officials are quietly preparing for the potential departure of Treasury Secretary Janet Yellen after the midterms
  • exit in what could be a broad reorganization of President Biden's economic team

Got a call from Goldman Sachs ?


  • The process is in the early stages and a decision on Yellen, or any Cabinet replacement, has not been made. Multiple sources stressed the outcome of November's election, including who controls the Senate, will factor into whether she stays.
  • Yellen will also have some say in her fate, and with the world's economy teetering, there could be a convincing case for her to stay.


There's a subtext here that's important for oil