President-elect Joe Biden is expected in the coming days to name several of his most senior economic advisers, a group that includes several liberal economists and policy specialists who established their credentials during the previous two Democratic administrations.
By CHRISTOPHER RUGABER and AAMER MADHANI WILMINGTON, Del. (AP) — With unemployment still high and the pandemic threatening yet another economic slump, President-elect Joe Biden is assembling a team of liberal advisers who have long focused on the nation’s workers and government efforts to address economic inequality. Janet Yellen, announced Monday as Biden’s nominee for treasury secretary, served as chair of the Federal Reserve from 2014 to 2018, when she placed a greater emphasis than previous Fed chairs on maximizing employment and less focus on price inflation. Biden also named Cecilia Rouse as chair of his Council of Economic Advisers, and Heather Boushey and Jared Bernstein as members of the council. All are outspoken supporters of more government stimulus spending to boost growth, a major issue with the coronavirus pandemic cramping the U.S. economy. Those choices “signal the desire of the Biden administration to take the CEA in a direction that really centers on working people and raising wages,” said Heidi Shierholz, senior economist at the Economic Policy Institute and former Labor Department chief economist during the Obama administration. Biden’s nominees are also a more personally diverse group than those of previous presidents. Yellen, if confirmed by the Senate, would be the first woman to serve as treasury secretary, after breaking ground as the first woman to chair the Fed. Rouse would be the first Black woman to lead the CEA in its 74 years of existence. And Neera Tanden, Biden’s pick for director of the Office of Management and Budget, would be the first South Asian American in that job. Biden also selected Wally Adeyemo to be Yellen’s deputy, which would make him the first Black deputy treasury secretary. Rouse, Tanden and Adeyemo will all require Senate confirmation, and Tanden in particular is already drawing heavy Republican criticism. Along with its progressive cast, Biden’s team also has years of experience in government and policymaking.
