US President-elect Joe Biden on Monday named Janet Yellen as his Secretary of the Treasury and Native American Neera Tanden as director of the Office of Management and Budget, announcing key members of his economic team. If confirmed by the United States Senate, Yellen, 74, will be the first woman to lead the Treasury Department in its 231-year history, and the first person to serve as Secretary of the Treasury, President of the Council of Economic Advisers and President of the Federal Reserve. Previously, the Senate had confirmed it on four separate occasions.
Tanden, 50, if confirmed by the Senate, would be the first woman of color and the first American Indian to lead the Office of Management and Budget (OMB). Tanden’s career has focused on implementing policies designed to support working families, foster broad-based economic growth, and curb rampant inequality.
“Another proud day for Indian Americans to see Neera Tanden being nominated for a cabinet-level position in the next administration. This position at OMB is a wide-ranging role with wide powers to manage billions of dollars of the US budget. If anyone had any doubts that our community has arrived politically, this election cycle is proof enough, “Indiaspora founder MR Rangaswami and an eminent philanthropist and venture capitalist told PTI. In announcing key members of his economic team, Biden also appointed Wally Adeyemo, as Under Secretary of the Treasury; Cecilia Rouse as president of the Council of Economic Advisers; and Jared Bernstein and Heather Boushey, as members of the Council of Economic Advisers. Biden would formally introduce his team on Tuesday.
This crisis-tested team will help the Biden administration lift America out of the current economic downturn and rebuild better by creating an economy that gives every person in America a fair chance and an equal chance to get ahead, said the transition. These options reflect the president-elect’s commitment to building an administration that resembles the United States, drawing on the diverse backgrounds and lived experiences of some of our nation’s leading economic experts, he said.
“As we get to work to control the virus, this is the team that will bring immediate economic relief to the American people during this economic crisis and help us rebuild our economy better than ever,” Biden said in a statement. This team is comprised of proven and respected innovative public servants who will help communities most impacted by COVID-19
and address structural inequalities in our economy, he said.
“They will work tirelessly to ensure that all Americans enjoy a fair return for their work and the same opportunity to get ahead, and that our businesses can prosper and outperform the rest of the world. This team resembles America and brings seriousness of purpose. , the highest degree of competence and an unwavering faith in America’s promise. They will be ready from day one to get to work for all Americans, “said Biden. According to Vice President-Elect Kamala Harris, this outstanding financial team will help the Biden administration fulfill its commitment.
“They are not just some of America’s brightest economic minds, they are also proven leaders who reflect the best of our country,” he said. “And they share a fundamental commitment to ending this economic crisis and putting people back to work, while rebuilding our economy in a way that uplifts all Americans. By selecting these crisis-tested public servants, the people America is getting the team financial advantage they need and deserve, “Harris said.
Adeyemo, a veteran of the Executive Branch and expert in macroeconomic policy and consumer protection with deep experience in national security, previously served as Deputy Director of the National Economic Council, Deputy National Security Adviser and the first Chief of the Consumer Cabinet. Financial Protection Office. If confirmed, Adeyemo would be the first African-American undersecretary of the Treasury.
Rouse is a prominent labor economist and dean of the Princeton School of Public and International Affairs. Previously, the Senate had confirmed her as a member of the CEA in 2009. If confirmed, she will become the first African-American and only the fourth woman to lead the CEA in the 74 years of its existence. Bernstein had previously served as President-elect Biden’s chief economist in the early years of the Obama-Biden administration. Heather Boushey is a distinguished economist focused on economic inequality and president, CEO and co-founder of the Washington Center for Equitable Growth.
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