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Economists, progressives and more women: Joe Biden presents his economic team in society

2020-12-01T01:41:11.780Z


He confirmed Janet Yellen at Tesoro. The charges must be ratified in the Senate.


11/30/2020 1:25 PM

  • Clarín.com

  • World

Updated 11/30/2020 1:25 PM

The president-elect of the United States, Joe Biden, announced this Monday the central nucleus of his economic team, a group of

progressive economists

in which Janet Yellen stands out as a Treasury nominee and who became known serving in the two previous Democratic governments , those of Barack Obama and Bill Clinton.

"Janet Yellen has been nominated as Secretary of the Treasury. If confirmed (by the Senate), she will be the first woman to lead the Treasury Department in its 231-year history," Biden's transition team said in a statement.

Additionally,

Neera Tanden

was nominated director of the Office of Management and Budget (OMB), the transition team said in a statement, CNN reported.

If confirmed by the Senate, Tanden will be

the first woman of color

and the first of Southeast Asian descent to head OMB, the body that oversees the federal budget.

Also, Adewale "Wally" Adeyemo was nominated undersecretary of the Treasury, making him the first African-American in the position if confirmed.

Janet Yellen, former Fed chairwoman. Photo: dpa

Additionally,

Cecilia Rouse

was named to the Chair of the Council of Economic Advisers and Jared Bernstein and Heather Boushey were appointed to the Council of Economic Advisers.

Yellen, 74, made history as the first

president of the

United States

Federal Reserve

, and will be challenged to revitalize the US economy after the hit she suffered from the coronavirus.

"As we begin to work to control the virus, this is the team that will provide

immediate financial assistance

to the American people during this economic crisis and help us rebuild our economy better than ever," Biden said in a statement.

The United States suffered a sharp contraction in its annualized Gross Domestic Product and lost tens of millions of jobs as it battles the world's largest Covid-19 outbreak.

A massive stimulus package approved earlier in the year helped mitigate some of the blow, but Yellen will likely have to overcome

a deadlock

in Congress to approve more aid, which analysts say is necessary to avoid further economic damage.

v 1.5

Coronavirus in the US

Tap to explore the data

Source:

Johns Hopkins University

Infographic:

Clarín

Look also

For the first time in history, a team of women will lead the White House communications

Joe Biden, with a broken foot

Source: clarin

All news articles on 2020-12-01

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