President-elect Biden to nominate former Fed chair Janet Yellen as treasury secretary

President-elect Biden to nominate former Fed chair Janet Yellen as treasury secretary
# 02 December 2020 09:01 (UTC +04:00)

Presidential election Joe Biden includes plans to nominate the first woman to lead the Ministry of Finance and several liberal economists and policy experts who have established qualifications between the previous two Democratic administrations on Monday, APA reports citing California News Times.

Announced the senior economic team of. Biden said he would nominate former Federal Reserve Janet Yellen as Treasury Secretary and Nila Tanden, a former adviser to Clinton and Obama, as Director of the United States Office of Management and Budget.

He also nominated Wally Adeemo, a former Obama administration official and the first chief executive officer of the former president’s nonprofit foundation, as a candidate for Deputy Secretary of Finance.

He also announced the White House’s economic team of economists Cecilia Rouse, Jared Bernstein and Heather Bowsey. Biden, who has emphasized the diversity of choices for cabinet candidates and key advisors, is the choice of his economic team. Yellen was the first woman to lead the Treasury, and Adeemo was the first black deputy secretary. Tanden is the first colored woman to lead the OMB, and Rouse is the first colored woman to chair the Council on Economic and Fiscal Policy.

“When we start managing the virus, this is a team that provides immediate financial relief to Americans. Biden said in a statement that people in the midst of this economic crisis are more economical than ever. Helps to recover. ”

Yellen was appointed chairman of the Federal Reserve in 2014, when the economy is still recovering from the catastrophic Great Depression. Bill Clinton is the best economic adviser to the Asian financial crisis and will lead the Treasury under Biden in a booming and epidemic economy. If confirmed, Yellen will be the first woman to lead the Treasury in almost 232 years.

She still inherits a high unemployment economy, increases the threat to small businesses, and shows signs that consumers are shrinking as pandemics limit or block spending. Den, the president and chief executive officer of the Center for American Progress, a liberal think tank, will be the director of the Office of Management and Budget. She was responsible for the domestic policy of the Obama Biden presidential campaign, but first marked it in the Clinton orbit. She was the policy director for Hillary Clinton’s 2008 presidential campaign.

Prior to that, he was Legislative Director at Senator Clinton’s Office and Deputy Campaign Manager and Issuing Director in the 2000 Senate Elections. Tanden was a senior policy adviser to the Bill Clinton administration. If confirmed, she will be the first colored woman and the first South Asian woman to lead OMB, the agency that oversees the federal budget. But the Senate Republicans have signaled them to do so. I disagree with the confirmation.

Late Sunday, a spokesman for Texas Republican Senator John Cornyn tweeted that Tanden “has no chance of being confirmed.” And Josh Holmes, political adviser to Senate leader Mitch McConnell, tweeted that confirmation was likely destined. Republicans dominate the current Senate, but next year’s majority will not be decided until the final vote on January 5 in two races involving Georgia’s GOP incumbents.

Brian Deese, a former senior economic adviser to the Obama administration, now managing director and global head of sustainable investment in BlackRock, by those familiar with transition plans that are not allowed to talk about this issue. Will be appointed to the board of directors of the White House National Economic Council. Deeds worked on car bailouts and environmental issues. Obama White House, Deputy Director of both NEC and OMBC, is the choice of Biden, a labor economist, Dean of the Faculty of Public International Affairs at Princeton University, and Chair of the Economic Advisory Board. She worked for CEA from 2009 to 2011 and to NEC under the Clinton administration from 1998 to 1999.

In particular, she organized a letter signed by more than 100 economists earlier this year, further calling for government action to mitigate fallout for Americans. Caused by a coronavirus pandemic. Rouse, a black man, will be the first colored woman to chair the CEA.

Biden will also serve as President and Chief Executive Officer of the Washington Fair Growth Center, Heather Bowsey, and Biden’s economic adviser and council member during the Obama administration. Both Boushey and Bernstein advised Biden during the presidential election