Janet Yellen is confirmed as the first female Treasury secretary in US history

The plan includes $1,400 stimulus checks, expanded unemployment benefits, and increased funding for Covid-19 vaccinations and testing.

During her confirmation hearing last week, Yellen defended the size and scope of the plan, saying the first priority of the incoming administration must be to get the nation and its people through the pandemic before addressing other concerns, including America's ballooning deficit or raising taxes.

"Right now, with interest rates at historic lows, the smartest thing we can do is act big," she told the Senate Finance Committee.

"Janet Yellen is brilliant and has a track record for being unflappable," Greg Valliere, chief US policy strategist at AGF Investments, said when her nomination made headlines in November.