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Joe Biden Introduces His Team Of Senior Advisers Tasked With Righting The Economy

Wilmington, Delaware – President-elect Joe Biden on Tuesday introduced his top advisers who he said will help his administration rebuild an economy battered by the coronavirus pandemic, declaring: “I know times are tough, but I want you to know that help is on the way ”.

Biden said he chose a “top-notch team” that is “experienced and proven” to respond “to the current economic crisis.”

He chose liberal advisers who throughout their careers have prioritized the country’s workers and government efforts to correct economic inequality at a time when unemployment rates remain high and the COVID-19 outbreak widens the gap. between the common American and the wealthiest. The virus, which has claimed more than 269,000 lives nationwide, is resurfacing across the nation amid Thanksgiving holiday travel and cold temperatures that are driving more people to gather indoors.

As he frequently did in his campaign. Biden promised that the United States will eventually emerge from the crisis with a drastically reformed economy to eliminate inequality.

“From one of the most unequal economic and unemployment crises in modern history, we can build an economy that benefits all Americans, not just a few,” said Biden, presenting his selections for some of the top economic positions in government. in a speech at a theater in Wilmington, from where he has directed his transition to the presidency.

Tuesday’s was also the president-elect’s first public appearance since he broke two small bones in his right foot while playing with one of his dogs over the weekend. To a question from reporters how he was doing, Biden said, “Okay, thanks for asking.”

Janet Yellen, who was announced Monday as a nominee for secretary of the Treasury, was chair of the Federal Reserve from 2014 to 2018, when unlike her immediate predecessors, she placed greater emphasis on maximizing employment and focusing less on inflation. Biden appointed Cecilia Rouse as chair of his Council of Economic Advisers, and Heather Boushey and Jared Bernstein as members.

He also appointed Wally Adeyemo as Yellen’s deputy, making him the first African-American to be undersecretary of the Treasury. Neera Tanden, chosen to head the Office of Management and Budget, would be the first person of South Asian origin to hold the position.

All are outspoken supporters of increasing fiscal spending to stimulate growth – a policy promoted by Biden during the election campaign – although his proposals could run into stumbling blocks in Congress, which has been stalled for months on a stimulus plan.

Prospects would largely depend on the results of the elections for Georgia’s two Senate seats. If they win both, the Democrats would control the Senate and its agenda by a minimal margin. A Republican victory would immediately test the ability of Biden and his team to negotiate with the opposition to give Americans the promised relief.

The day before, Fed Chairman Jerome Powell said that the pace of improvement in the economy has slowed in recent months and future prospects are “extraordinarily uncertain.”

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