WASHINGTON: On Monday, President-elect Joe Biden officially appointed former Federal Reserve Chair Janet Yellen to head the Treasury, one of the economic leaders who will crack the U.S. government’s ethnic and gender gaps.
After running mate Kamala Harris made history as the first woman and first male of both African American and South Asian origin to hold the vice presidency, the announcement of Biden’s economic squad.
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Yellen will be the first female Treasury Secretary if they receive Senate support, and be joined in the executive branch by the first African Americans to serve as her deputy and as president of the economic council of the White House, as well as the first South Asian in a crucial budget role.
“As a country, we are facing great challenges right now. Yellen tweeted after the announcement, “To recover, we must restore the American dream, a society where each individual can rise to their potential and dream even greater for their children.”
I will work every day as Treasury Secretary to restore the hope for everybody. Job number one for the 74-year-old, who previously made history as the first female head of the Federal Reserve from 2014 to 2018, will help the US economy rebound from the sharp slowdown in growth and mass unemployment triggered by the pandemic of Covid-19.
In the final weeks of the year, whether politicians are able to resolve their differences, she will undoubtedly be faced with urging Congressional Democrats and Republicans to pass another budget bill to assist recovery in the middle of a month-long deadlock over new aid.
“This is the team that will provide immediate economic relief to the American people during this economic crisis as we get to work to control the virus and help us rebuild our economy better than ever,” Biden said in a statement announcing his appointments.
He emphasised that when he assumes office in January, he will aim for diversity while selecting workers. The appointment of Yellen was first announced last week and on Tuesday, Biden and Vice President-elect Kamala Harris would officially unveil the nominations.
Former members of the Barack Obama administration, under which Biden served as vice president, include several of those selected to serve on Biden’s economic team.
Wally Adeyemo, born in Nigeria, a former deputy national security adviser and new president of the non-profit Obama Foundation, will serve as deputy secretary of the Treasury. In that position, he will be the first African American.
As director of the Office of Strategy and Budget, Neera Tanden, president of the Independent Think Tank Centre for American Progress, was tapped. She will be the first South Asian leader if confirmed.
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He emphasised that when he assumes office in January, he will aim for diversity while selecting workers. The appointment of Yellen was first announced last week and on Tuesday, Biden and Vice President-elect Kamala Harris would officially unveil the nominations.
Former members of the Barack Obama administration, under which Biden served as vice president, include several of those selected to serve on Biden’s economic team.
Wally Adeyemo, born in Nigeria, a former deputy national security adviser and new president of the non-profit Obama Foundation, will serve as deputy secretary of the Treasury. In that position, he will be the first African American.
As director of the Office of Strategy and Budget, Neera Tanden, president of the Independent Think Tank Centre for American Progress, was tapped. She will be the first South Asian leader if confirmed.
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