White House may replace Yellen and Deese after the midterms: Axios

White house

Treasury Secretary Janet Yellen may be leaving office after the midterm elections in November, Axios first reported, without giving a specific source.

The White House did not confirm that Yellen and National Economic Council Director Brian Deese are expected to leave the administration.

Yellen in May cited the TerraUSD collapse in support of new stablecoin legislation; however, she has generally shown restraint in public on crypto regulation guidance.

Deese, who spoke of the benefits behind working with the digital asset community to mitigate risks and harness the benefits of digital assets this month, has drawn criticism as the Biden administration has stepped up enforcement efforts.

Yellen, who has served as Treasury secretary since January 2021, has not said she has any plans to leave the administration, a spokesperson said.

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