President-elect Joe Biden on Tuesday unveiled his economic team to the Americans. The team which comprises persons with diverse backgrounds is tasked with the country’s economic recovery. The economic philosophies of the team show great deviation from President Trump’s policies.
The Economic Team
Biden termed his team as a “family team” which will always be there for the American people. The team includes:
- Janet Yellen – Nominee for Treasury secretary and former Federal Reserve Chair.
- Neera Tanden – Expected leader of Office of Management and Budget, and a veteran Democratic policy advisor.
- Adewale Adeyemo – Nominee for Deputy Secretary of the Treasury, and former deputy director of National Economic Council.
- Cecilia Rouse – Expected leader of Council of Economic Advisors (CEA), and a Princeton economist.
- Jared Bernstein – Biden’s longtime economic advisor expected to join the CEA.
- Heather Boushey – Expected to join the CEA.
Humble Beginnings
Biden’s nominations are nothing close to Trump’s who chose “people that made a fortune”. Moreover, Trump said a “poor person” didn’t have the capacity of becoming an economic advisor.
The Biden team recounted their early experiences and how it had shaped them to be the people they are.
Janet Yellen said she became an economist because she was concerned with the number of unemployed persons, families, and communities. She attributed this to the previous talks of her father, a family physician, who constantly talked about what work meant to his patients, friends, and neighbors.
Neera Tanden described how her single mother, an Indian immigrant, relied on food stamps to feed her and her sister, and Section 8 housing vouchers to pay rent. She acknowledged her current position is all thanks to the social programs, from appropriate budgetary allocation by the then government.
Nigerian born Adewale ‘Wally’ Adeyemo, described how his father and mother, an elementary school principal and a nurse respectively, came from Nigeria to America to build a better life for him and his siblings. He says that his parents made aware to them, him and his siblings, of the responsibility they had to serve the country that gave them immense opportunities.
Cecilia Rouse explained a striking coincidence of her first college class with the early 1980s steep recession.
Jared Bernstein recounted being raised by a single mother who mounted a photo of Franklin Roosevelt on the wall.
Heather Boushey recalled how her father was laid off from his Boeing job in the 1980s. At that period she said she experienced “the pain called economy.”
Adewale’s Remarks
Being the first Black person to serve in his current nominated position, Adewale said he looked forward to building back a better economy.
“American people can do anything when given a chance. And I’m honored to be a part of this talented team and to work with them and all the American people to build an economy that gives everyone that chance and turns our nation once again from crisis to hope,” Adewale said during the unveiling.
Biden is expected to make other key White House positions appointment in the coming weeks. The new administration is expected to be sworn in on 20 January 2021.
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