If Janet Yellen is confirmed as Treasury Secretary, she would be entering the Biden administration having forged a "productive relationship" with manufacturers, National Association of Manufacturers (NAM) president Jay Timmons said Tuesday.
“Manufacturers have had a very productive relationship with Janet Yellen,” Timmons told FOX Business Network's “Cavuto: Coast to Coast.”
Timmons told host Neil Cavuto that in past interactions with Yellen in her previous role as Federal Reserve chair, manufacturers had been “struck” by her relevant questioning and interest in the viewpoints of industry professionals.
“It wasn’t just a one-way dialogue, which happens so often in Washington,” he explained. “She genuinely wanted to know what we were experiencing and what would make it easier for manufacturers to invest and hire and raise wages and benefits. And we think that’s a good start to hopefully a productive relationship.”
Yellen served as Fed chair from February 2014 to February 2018 and was succeeded by current chair Jerome Powell. President-elect Biden unveiled much of his economic Cabinet Tuesday, choosing Obama Foundation president Wally Adeyemo as deputy treasury secretary. and Princeton University Dean Cecilia Rouse as chair of the Council on Economic Advisers.
Timmons stressed that manufacturers and their employees would face an "economic nightmare" in the new year without additional stimulus and liability protection.
“This Congress and this administration have some work to do, quite frankly, before the next administration comes into office,” he said.