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Treasury secretary nominee Janet Yellen speaks after U.S. President-elect Joe Biden announced his economic team at The Queen Theater in Wilmington, Delaware, on December 1.
Treasury secretary nominee Janet Yellen speaks after U.S. President-elect Joe Biden announced his economic team at The Queen Theater in Wilmington, Delaware, on December 1. Chandan Khanna/AFP via Getty Images

President-elect Joe Biden unveiled the top members of his economic team this afternoon in Wilmington, Delaware. They will be tasked with leading the incoming administration’s economic response to the coronavirus pandemic.

The nominees outlined their vision of the US economy and their role. Here’s some of what they had to say:

Janet Yellen, Secretary of the Treasury nominee

Yellen said that the nation is “facing historic crises” like those the US saw during the Great Recession.

“The pandemic and economic fallout together have caused so much damage for so many and had disproportionate impact on the most vulnerable among us. Lost lives, lost jobs, small businesses struggling to stay alive are closed for good. So many people struggling to put food on the table and pay bills and rent.” 

Yellen said “it is essential we move with urgency” to address the economic problems in America today. 

“Inaction will produce self reinforcing downturn causing yet more devastation,” the nominee added. 

If confirmed, Yellen would be the first woman to be treasury secretary.

Neera Tanden, Director of the Office of Management and Budget nominee

Tanden said it is her “profound honor to help shape the budgets and programs to keep lifting Americans up, to pull families back from the brink, to give everybody the fair chance my mom got, and that every single person deserves.” 

“That’s the America they were drawn to, the America the President-Elect and Vice President-Elect are ready to grow,” the nominee added.

Tanden noted that as Vice President-elect Harris, her mother also was born in India and immigrated to the US to pursue a better life.  

If confirmed, the nominee would be the first woman of color and first South Asian American to oversee the office.

Wally Adeyemo, Deputy Secretary of the Treasury nominee

Adeyamo said he looks forward to working at Treasury with Janet Yellen “to reduce inequality in this country, expand the middle class, make sure we build an economy that works for everyone.”

He said the country “must also remain laser focused” in the treasury department’s role in “protecting national security.” 

“This includes using sanctions regime to hold bad actors accountable, dismantling financial networks of terrorist organizations and others that seek to do us harm, ensuring foreign investment policy protects America’s national security interests.” 

He said, “The challenges before us today are unlike anything we have ever faced.”

If confirmed, Adeyemo would be the first Black deputy Treasury Secretary. 

Cecilia Rouse, Chair of the Council of Economic Advisers nominee

Rouse said that the country is facing a moment of urgency and opportunity, unlike any we faced in modern times.” 

“The urgency of ending a devastating crisis and the opportunity to build a better economy in its wake, an economy that works for everyone, brings fulfilling job opportunities and leaves no one to fall through the cracks.” 

Jared Bernstein, selected as member of the Council of Economic Advisers

Bernstein said the Biden-Harris economic agenda is ‘”timely, resonant, and visionary.” 

“Yes, they stressed the urgent need to control the virus, provide the relief needed to help families and businesses get to the other side of the crisis. But they’ve been just as adamant that simply getting back to where we were sets the bar too low.”

He added that the US must create an economy “that’s far more resilient, far more fair, and far more inclusive.”

Heather Boushey, selected as member of the Council of Economic Advisers

Boushey said she’s dedicated her career to figuring out how we can grow and sustain the middle class.”

She said the American economy should “uproot the gender barriers and racial barriers that leave too many Americans outside the dream looking in.”

Learn more about Biden’s picks here.

Source: CNN | News Colony

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