New Treasury secretary who will please all Democrats, says Joe Biden

US President-elect Joe Biden. Credit: AFP Photo

President-elect Joe Biden said on Thursday he had selected a person to run the Treasury Department and would reveal his choice as soon as next week.

"We've made that decision," Biden told a news conference. "And you'll find it is someone who I think will be accepted by all elements of the Democratic Party ... progressive to the moderate coalitions."

He said he would disclose his pick for Treasury secretary either before or after next Thursday's Thanksgiving holiday.

Biden also said he supported the way the Federal Reserve had managed interest rate policy.

"I think it's been positive so far," Biden said about the Fed's interest rate policies.

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