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Biden introduces diverse picks for economic roles, including Yellen as treasury secretary

Biden expected to announce diverse picks for economic team in coming days
Posted at 4:37 AM, Nov 30, 2020
and last updated 2020-12-01 13:51:14-05

WASHINGTON, D.C. – President-elect Joe Biden introduced his picks for several of his most senior economic advisers at a press event on Tuesday afternoon.

The group includes liberal economists and policy specialists who established their credentials during the previous two Democratic administrations. Biden is placing a premium on diversity in his selection of Cabinet nominees and key advisers.

For treasury secretary, Biden has nominated former Fed chair Janet Yellen. She would be the first woman to lead the Treasury Department in its 231 years of existence. She would also be the first person to serve as treasury secretary, chair of the Federal Reserve, and chair of the Council of Economic Advisers.

In introducing Yellen, Biden called her the most qualified person for the job,citing her work at the Fed following the economic recession of the late '00s.

In referencing the hit Broadway play "Hamilton," which centers around the life of the first Secretary of Treasury, Alexander Hamilton, Biden joked that Lin Manual-Miranda would eventually need to write a musical based on Yellen's life.

Biden has also tapped Neera Tanden to head the Office of Management and Budget. Tanden would be the first woman of color and the first South Asian woman to lead the agency that oversees the federal budget. She currently serves as President and CEO of the Center for American Progress, an organization dedicated to advancing policies that increase opportunity for Americans.

Additionally, Biden has chosen Wally Adeyemo as his deputy treasury secretary. He previously served the in the Obama-Biden administration as deputy director of the National Economic Council and deputy national security advisor. He currently serves as president of the Obama Foundation.

Adeyemo would be the first African-American to serve in the role.

Biden has picked Ceclica Rouse as chair of the Council of Economic Advisers. She’s a former member of the Obama-Biden council and currently serves as Dean of the Princeton School of Public and International Affairs. If confirmed, she will become just the first African American and just the fourth woman to lead the CEA in the 74 years of its existence.

Jared Bernstein has been chosen as a member of the Council of Economic Advisers. He previously served as Biden’s chief economist in the first years of the Obama-Biden administration.

And Heather Boushey will also become a member of the Council of Economic Advisers. She’s a longtime economic counselor to Biden and currently serves as President and CEO of the Washington Center for Equitable Growth, a nonprofit research and grantmaking organization she cofounded in 2013.

Biden released this statement about his economic picks:

“As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever. This team is comprised of respected and tested groundbreaking public servants who will help the communities hardest hit by COVID-19 and address the structural inequities in our economy. They will work tirelessly to ensure every American enjoys a fair return for their work and an equal chance to get ahead, and that our businesses can thrive and outcompete the rest of the world. This team looks like America and brings seriousness of purpose, the highest degree of competency, and unwavering belief in the promise of America. They will be ready on day one to get to work for all Americans.”