Janet Yellen

White House press secretary Jen Psaki confirmed that the White House is monitoring the wild and ever-changing situation with video game retailer GameStop's stock price during her daily briefing on Wednesday, telling reporters that US Secretary of the Treasury Janet Yellen and her team are watching what's going on, though there is no word on if any action will be taken.

Psaki said that their economic team "are monitoring the situation. It's a good reminder, though, that the stock market isn't the only measure of the health of our economy,"

Former Federal Reserve Chair Janet Yellen will be Treasury Secretary in the new U.S. administration. The Senate confirmed the economist on Monday with 84 to 15 votes.

For the first time in the history of the United States, the influential ministry is thus led by a woman. Yellen had also easily cleared the first hurdle last week when her nomination was unanimously approved in the Senate Finance Committee.