US president-elect Joe Biden on Monday announced key members of his economic team, pinning hopes on them to tackle the huge economic challenges faced by the United States. Biden assured that the team will deliver immediate economic relief for the American people during the ongoing crisis and help rebuild the economy.
The septuagenarian leader said in a statement that the team is comprised of “respected and tested groundbreaking” public servants who will help the communities hardest hit by the coronavirus disease (Covid-19) and address the structural inequities in the US economy. He added that the team will work tirelessly to ensure every citizen enjoys a fair return for their work and an equal chance to get ahead.
“This team looks like America and brings the seriousness of purpose, the highest degree of competency, and unwavering belief in the promise of America,” the statement read.
Meet Biden’s economic team:
Janet Yellen: The former Federal Reserve chair has been nominated for the treasury secretary position. Biden’s transition team announced the nomination, saying, if confirmed, she will be the first woman to lead the department in its 231-year long history. Yellen served as the 15th chair of the Federal Reserve, becoming the first woman to lead America’s central banking system since its creation. The American economist has previously been confirmed by the Senate on four separate occasions, which indicates her acceptability across the aisle.
Neera Tanden: The Indian-American lawyer has been tapped as the director of the Office of Management and Budget, the top position in the White House responsible for managing the administration’s budget. If confirmed, Tanden would be the first woman of colour and first South Asian-American to lead the Office of Management and Budget. According to the transition team, Tanden’s career has focused on “pursuing policies designed to support working families, foster broad-based economic growth, and curb rampant inequality.”
Wally Adeyemo: The African-American veteran of the executive branch has been nominated for the position of deputy secretary of the treasury. Adeyemo, an expert on macro-economic policy and consumer protection, previously served as deputy director of the national economic council, deputy national security advisor, and the first chief of staff of the consumer financial protection bureau. If confirmed, Adeyemo would be the first African-American deputy secretary of the treasury.
Cecilia Rouse: The 56-year-old African-American woman has been nominated to serve as chair of the council of economic advisers. Rouse, a leading labour economist, was confirmed by the Senate as a member of the Council of Economic Advisers (CEA) in 2009. If confirmed, she would become the first African-American and the fourth woman to lead the CEA in the 74 years of its existence.
Jared Bernstein: The former chief economist to Biden in the first years of the Obama administration will serve as a member of the CEA. During his previous stint in the Obama-Biden administration, Bernstein was considered to be a progressive and a strong advocate for workers. He has also served as executive director of the White House task force on the middle class and as an economic advisor to President Obama.
Heather Boushey – The distinguished economist will serve as a member of the CEA. She is a long-time economic counsellor to Biden and currently serves as president and CEO of the Washington Center for Equitable Growth, a non-profit research and grant making organisation. Boushey previously served as chief economist for secretary of state Hillary Clinton’s 2016 presidential transition team.