Biden pledges ‘help’ on way in unveiling economic team
noting that many of those on his newly formed economic team worked closely with him then.
Most of his choices will reWILMINGTON, Del. — Presquire confirmation from the ident-elect Joe Biden on TuesSenate. day introduced top advisers he Janet Yellen, Biden’s nominee says will help his administration for treasury secretary, served as rebuild an economy hammered chair of the Federal Reserve by the coronavirus pandemic, from 2014 to 2018, when she declaring, “I know times are placed a greater emphasis than tough, but I want you to know previous Fed chairs on maxithat help is on the way.” mizing employment and less
Biden said he’d chosen a focus on price inflation. Biden “first-rate team” that is “tested also named Cecilia Rouse as and experienced” to tackle the chair of his Council of Economic country’s economic crisis. He Advisers, and Heather Boushey picked liberal advisers who have and Jared Bernstein as members long prioritized the nation’s of the council. workers and government efforts Yellen called the economic to address economic inequality. havoc the pandemic has
Unemployment remains high wrought “an American tragedy.” as the COVID-19 outbreak wid“To the American people: We ens the gulf between average will be an institution that wakes people and the wealthiest up every morning thinking Americans. The virus, which has about you,” Yellen said of the claimed more than 270,000 lives Treasury Department. “Your nationwide, is resurgent across jobs, your paychecks, your strugthe country amid holiday travel gles, your hopes, your dignity and colder weather sending and your limitless potential.” people indoors. walking boot and moved ginIf confirmed, Yellen would be
As he did frequently while gerly but tried to keep things the first woman to serve as campaigning, Biden promised light. As he emerged from his treasury secretary, after breakthat the U.S. would eventually motorcade, Biden pointed to his ing ground as the first woman to emerge with an economy that is boot and lifted his leg briefly to chair the Fed. dramatically reshaped to better show it off. Rouse would be the first Black stamp out economic inequality. Asked about his foot by rewoman to lead the CEA in its 74
“From the most unequal porters, he responded, “Good, years of existence. Biden also economic and job crisis in modthanks for asking.” selected Wally Adeyemo to be ern history, we can build a new The injury, while not serious, Yellen’s deputy, which would American economy that works again intensifies scrutiny on make him the first Black deputy for all Americans, not just some,” Biden’s age, given that he just treasury secretary. Neera Biden said as he introduced his turned 78 and will be the oldest Tanden, Biden’s pick for direcchoices for some of the governpresident ever in his first term. tor of the Office of Management ment’s top economic posts durStill, his team has tried to keep and Budget, would be the first ing a speech at a theater in the focus on building out its South Asian American in that Wilmington, Delaware, wherejob.governmentandupcomingpolhe has led his transition to the icy challenges, chief among Rouse, Tanden and Adeyemo presidency. them the pandemic and the will all require Senate confirma
Tuesday also marked the economy. tion, and Tanden, is already president-elect’s first appearBiden repeatedly evoked his drawing GOP criticism. ance since breaking two small work as vice president when the Biden said he hopes “that we bones in his right foot while Obama administration oversaw will be able to work across the playing with one of his dogs over the economic recovery followaisle in good faith, move forward the weekend. He wore a black ing the 2008 financial crisis, as one country.”