Biden Nominates Yellen for Treasury Secretary Position and Announces Other Key Members of Economic Team | CNN

Analyst: Biden chooses cabinet with focus on diversity 0:59

(CNN) -

President-elect Joe Biden has announced key members of his economic team, completing another diverse pool of nominees.

Janet Yellen will become the Treasury secretary, if confirmed, and Neera Tanden will become the director of the Office of Management and Budget, according to a statement from the transition.

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Biden also announced Wally Adeyemo as Under Secretary of the Treasury, Cecilia Rouse for the chairmanship of the Council of Economic Advisers, and Jared Bernstein and Heather Boushey as members of the Council of Economic Advisers.

This statement confirms what CNN reported that Biden would select Yellen for the Treasury position and Adeyemo for the No. 2 position.

"This team is comprised of respected and proven innovative public servants who will help the communities most affected by COVID-19 and address structural inequalities in our economy," a statement by Biden included in the statement reads.

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