Biden Names Key Members of Economic Team

Dec 2, 2020Federal Regulation, News

As he prepares to take office next month, President-elect Joe Biden recently announced the first wave of his economic team’s key members, which his transition says will create an economy that gives Americans a fair chance to get ahead. The choices echo Biden’s commitment to constructing an administration that reflects America by relying on diverse backgrounds to lift the country out of its current economic downturn.

“There is consensus that, as we battle COVID-19, we have to make sure that businesses and workers have the tools, resources, guidance, and health and safety standards to operate safely,” the President-elect said. “For the millions of Americans who have lost their jobs⎯or hours⎯and have had to claim unemployment, we have to deliver them immediate relief.”

The nominees “share a fundamental commitment to ending this economic crisis and putting people back to work, while rebuilding our economy in a way that lifts up all Americans. With the selection of these crisis-tested public servants, the American people are getting the economic team they need⎯and deserve,” said Vice President-elect Kamala Harris.   

For Secretary of the Treasury, Biden selected Janet Yellen, who will become the first woman to lead the department, and, if confirmed, will be the first person to have served as Treasury Secretary, Chair of the Federal Reserve, and Chair of the Economic Council. Neera Tanden was nominated to serve as Director of the Office of Management and Budget, and would be the first woman of color in that position if confirmed.

Wally Adeyemo was nominated as Deputy Secretary of the Treasury, and previously served as Deputy National Security Advisor and the first Chief of Staff of the Consumer Financial Protection Bureau. To serve as Chair of the Council of Economic Advisers (CEA), Biden nominated Cecilia Rouse who will become the first African American to lead the CEA if confirmed.

Jared Bernstein, who previously served as Chief Economist to Biden during the Obama Administration, and Heather Boushey will round out the Biden Administration’s CEA.

Click here for the press release announcing the economic team, here for President-elect Biden’s remarks as prepared for delivery during the rollout, here for Vice President-elect Harris’ remarks during the rollout, and  here for the nominees’ remarks during the rollout event in Wilmington, Delaware.


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