White House dismisses report that bank CEO could replace Yellen as Treasury secretary

White House press secretary Karine Jean-Pierre on Friday played down a Fox Business report that said Bank of America CEO Brian Moynihan is on the Biden administration’s short list to replace Treasury Secretary Janet Yellen if Yellen decides to leave her post. Jean-Pierre said that report “seems to be pure speculation” and pointed to Yellen’s recent statement that she has no plans to leave. The report said Commerce Secretary Gina Raimondo is also a frontrunner for the Treasury job.

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