In this Feb. 7, 2012 file photo, a wax likeness of the renowned abolitionist and conductor of the Underground Railroad Harriet Ross Tubman is unveiled at the Presidents Gallery by Madame Tussauds in Washington. With a change of administrations, it looks like Harriet Tubman is once again headed to the front of the $20 bill. Biden press secretary Jen Psaki said Monday that the Treasury Department is taking steps to resume efforts to put the 19th century abolitionist leader on the $20 bill. Obama administration Treasury Secretary Jack Lew had selected Tubman to replace Andrew Jackson, the nation’s seventh president, on the $20 bill. (AP Photo/Manuel Balce Ceneta)
By Martin Crutsinger
With a change of administrations, it looks like Harriet Tubman is once again headed to the front of the $20 bill.
Biden press secretary Jen Psaki said Monday that the Treasury Department is taking steps to resume efforts to put the 19th century abolitionist leader on the $20 bill.
Obama administration Treasury Secretary Jack Lew had selected Tubman to replace Andrew Jackson, the nation's seventh president, on the $20 bill.
But Tubman's fate had been in doubt since the 2016 presidential campaign based on critical comments by then-candidate Donald Trump, who branded the move “pure political correctness.”
Trump administration Treasury Secretary Steven Mnuchin did not move forward with the decision by the Obama administration. Instead, Mnuchin in 2019 announced a delay in redesigning the $20 bill in order to redesign the $10 and $50 bills first to improve security features to thwart counterfeiters.
The unveiling of the redesigned $20 bill featuring Tubman, famous for her efforts spiriting slaves to freedom on the Underground Railroad, had been timed by the Obama administration to coincide with the 100th anniversary of passage of the 19th Amendment giving women the right to vote.
Under the schedule Mnuchin announced in May 2019, the redesigned $20 bill would not have come out until 2028 with final designs for the bill not announced until 2026.
But Psaki told reporters during a briefing Monday that she and other officials were surprised to hear of the delays in putting Tubman on the $20 bill. With a change in administrations, she said the Treasury Department was taking steps to resume efforts to put Tubman on the $20 bill.
“It is important that our .... money reflect the history and diversity of our country and Harriet Tubman's image gracing the new $20 note would certainly reflect that,” Psaki said. “We are exploring ways to speed up that effort.”
Psaki said specifics on a new timeline for introducing a redesigned $20 with Tubman would be announced when finalized by the Treasury Department. Biden has selected Janet Yellen to be his Treasury secretary, the first woman to hold that position in the department's 232 years.
As the U.S. continues to face supply chain shortages, President Joe Biden is reassuring U.S. consumers that the supply chain is in "very strong shape" ahead of the all-important holiday season. As supply bottlenecks start to show signs of improvement, the industry may be faced with yet another challenge: the Omicron variant. Rob Caucci, Co-Founder & Co-CEO of Fillogic joined Cheddar's Opening Bell to discuss.
Markets rebounded Monday morning after Friday's deep sell-off that saw the Dow suffer its worse day since 2020. It comes as investors continue to react to the impact of the omicron variant on the broader reopening. Eddie Ghabour, Co-Owner at the Key Advisors Group joined Cheddar's Opening Bell to discuss.
Markets bounced back this morning with travel leading the gains after plunging on Monday as the first case of Omicron was detected in the U.S. Jimmy Lee, CEO, Wealth Consulting Group joined Cheddar's Opening Bell to discuss.
The market saw investors react to comments by the World Health Organization's chief scientist, who suggested existing vaccines are likely to offer protection against the new variant. According to Thomas Hayes, chairman of Great Hill Capital, the next two weeks will be crucial as the markets watch for not only the effects of the Omicron variant, but also the Fed's decision on a taper.
It's Friday at long last. Jill and Carlo cover the latest on Omicron, including a possible superspreader event in NYC. Plus, previewing the November jobs report, a new Zoom feature no one asked for, and when it's no longer a good idea to eat Thanksgiving leftovers.
Following the Mississippi abortion case, the fate of Roe V. Wade is at stake. A decision is expected next summer, right around the time midterm candidates will be making their cases to voters. Laura Packard, executive director of Health Care Voter, joins Cheddar News to discuss how the ruling will impact upcoming elections.
Stock markets around the world continue to be impacted by fears of the new Omicron COVID-19 variant. President Biden today reiterated his stance that the new strain is cause for concern, but not cause for panic. Wells Fargo Investment Institute Global Equity Strategist Scott Wren joined Cheddar News' Closing Bell to discuss.
Jill and Carlo discuss what appears to be the beginning of the end of Roe v. Wade, another victim dies following the school shooting in Michigan, Omicron in the U.S., Trump's Covid chronology and more.
