Meet the Team
With President-Elect Joe Biden’s recent Economic Advisers nominees and appointees, we’re reminded personnel is policy. Short-term, his picks should give us an idea of what a proposed Biden stimulus may look like when he gets into office. Also, since the economy is at or near the top of everyone’s minds these days, it wouldn’t hurt to know a little bit about each appointment/nominee.
I should list them before discussing further:
- Janet Yellen: Secretary of the Treasury
- Neera Tanden: Director of the Office of Management and Budget
- Wally Adeyemo: Deputy Secretary of the Treasury
- Cecilia Rouse: Chair of the Council of Economic Advisors
- Jared Bernstein: Member of the Council of Economic Advisors
- Heather Boushey: Member of the Council of Economic Advisors
Change Is Coming
For those who were paying attention during the years of the Obama Administration, some of these names will sound familiar. The most recognizable for most is probably Janet Yellen. I don’t think center-left or liberal Democrats will have a problem with her, and I suspect some Republicans won’t have a problem with her either.
Wally is also back from the Obama Administration. He is a Wall Street guy (BlackRock – NYSE:BLK), so take that how you want to take it. Wally’s real name is Adewale. He was born in Nigeria and raised in California. He was the chief negotiator for the TPP during the Obama Administration and later the first President of the Obama Foundation.
I know you all are excited about Rouse. I guess you all would call her the “woke” one of the bunch.
With this incoming administration, we’ve become accustom to seeing firsts. This team is no different. Yellen would be the first woman to to be Treasury Secretary after being the first woman to lead the Federal Reserve during the Obama Administration. Adewale would be the first Black man, Neera would be the first South Asian woman, and Rouse would be the first African-American to their respective positions.
Overall, this is a fairly well-rounded team of Economic Advisers. I think women especially will be encouraged by these selections.
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ECONOMY NOMINEES AND APPOINTEES. https://buildbackbetter.gov/nominees-and-appointees/economy/. Last accessed: 12/2/2020.
Biden To Appoint Nigerian-Born Adewale Adeyemo As US Deputy Treasury Secretary. https://www.channelstv.com/2020/11/30/biden-to-appoint-nigerian-born-adewale-adeyemo-as-us-deputy-treasury-secretary/. Last accessed: 12/2/2020.
Janet Yellen Leaves the Fed—and a Glass Ceiling Shattered. Janet Yellen Leaves the Fed—and a Glass Ceiling Shattered – WSJ. Last accessed: 12/2/2020.
Biden Picks Janet Yellen for Treasury Secretary. Biden Picks Janet Yellen for Treasury Secretary – WSJ. Last accessed: 12/2/2020.