Biden Officially Announces Yellen Nomination, Picks For Diverse Economic Team

11/30/2020 7:55:00 PM

The President-elect takes another step towards his promise of an administration that looks like America.

Federal Reserve Chair Janet Yellen speaks during a news conference December 13, 2017 in Washington,... [+]Getty ImagesKey FactsBiden’s team also announced that Neera Tanden, the CEO of the Center for American Progress, will be nominated to lead the Office of Management and Budget; she’ll be the first woman of color to serve in that role if confirmed. 

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If confirmed, Princeton labor economist Cecilia Rouse will be the first woman of color to chair the Council of Economic Advisors. Wally Adeyemo, the current president of the Obama Foundation and former chief of staff of the Consumer Financial Protection Bureau, will be nominated to serve as Deputy Director of the Treasury and would be the first African American to serve in that role if confirmed. 

Jared Bernstein and Heather Boushey, both of whom served as economic aides to Biden during the campaign, will also serve on the Council of Economic Advisors. According to multiple news reports, former Obama administration aide and current BlackRock managing director Brian Deese will head the National Economic Council.

Crucial Quote“President-elect Biden and Vice President-elect Harris have assembled a brilliant, visionary economic team, whose historic nominations represent a lifeline for millions of working families struggling during this devastating pandemic and economic crisis,” House Speaker Nancy Pelosi (D-Calif.) said in a statement Monday.

Read more: Forbes »

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“Biden announced Sunday that he will hire an all-female communications staff in another step towards his commitment to put together a diverse administration. “ That doesn’t sound diverse. In fact, it seams almost a stereotype. Looks like another Obama selection but just 12 years older. Senior citizen The revolving door

Yellen wants the Fed to be able to buy stocks, because apparently getting rid of free markets is 'American' now. wow Arizona state legislature holds public hearing right now: