[ad_1]
The next president of the United States, Byden, will announce this week the face of an economic team led by the appointment of the former president of the Federal Reserve Board (FRB), Janet Yellen, as Secretary of the Treasury. Establish a major force to deal with the financial impact of the new coronavirus epidemic.
Mr. Yelen is a battlefield veteran with a total of nearly 20 years of experience as an FRB officer and will play a leadership role in rebuilding the US economy, urgently in need of financial funding. and regain confidence. Byden is calling for trillions of new stimulus to help small businesses, the driving force behind job creation.
Former FRB President Yellen
Photographer: Elijah Nouvelage / Bloomberg
Yeren is expected to request “unusual financial support,” saying the cost of running a budget deficit can be kept relatively low given ultra-low interest rates.
Mr. Byden is expected to announce to other members of the economic team. According to people familiar with the selection process, Neira Tanden, a longtime Democratic Party policy staff member in the Office of Management and Budget (OMB), and President of Public Policy and International Relations at Princeton University of the Presidential Economic Advisory Board (CEA) Policy is to appoint Mr. Cecili Rouse, Graduate Director. Breaking the deadlock in parliamentary deliberations on additional economic measures is the team’s top priority.
Mr. Byden will appoint Mr. Tanden as Director of the person related to the Administrative Budget Office
If Mr. Yelen is indeed nominated, the approval process in the Senate is expected to go smoothly. Although he sometimes argued with Republican lawmakers as FRB chair, he has been respected by a wide range of people, and some Republican lawmakers have praised the election.
Yeren, now 74, has recently been nominated as an older finance minister and will be the first woman to take office. For both the FRB President and Treasury Secretary positions, the top economic position was “Three Kings of the Crown,” including William Miller during the Carter administration and CEA President Yellen during the Clinton administration. . They will be.
Evenflow macroeconomist Mark Samarin said: “It is prudent for Mr. Byden to elect Mr. Yelen. There is no political bias and he is respected by everyone. So much about the need for stimulus.” There is no one who can sue with the intuition of “.
Tax bailout
Pandemic spending left the US with the largest budget deficit since WWII
Source: Congressional Budget Office, September 2020
Trade deficit with China
Average US trade balance in goods with China has changed little
Source: US Census Bureau.
Original title:Yellen Will Forge America’s Economic Comeback Like Biden’s Treasury Election （抜 粋）
