Beyer on Biden team: ‘Our economy will soon be in competent, capable hands’
Virginia Democrat Don Beyer, who is set to take over as chair of the Congress Joint Economic Committee, has high praise for the team that President-elect Joe Biden is assembling to advise him on economic issues.
“The women and men President-elect Biden has selected are among the best and brightest in the country, and most importantly they have the experience and expertise needed to build our economy back better. Every member of this team is battle-tested by past crises, and with these leaders in place our economy will soon be back in competent, capable hands,” said Beyer, who is set to begin a term as chair of the Joint Economic Committee, which advises Congress on the state of the economy and suggests policy solutions to economics problems, in January.
The Biden transition team on Monday released its list of nominees for top economics posts, beginning with former Fed chair Janet Yellen, who will be the nominee to serve as Treasury secretary in the Biden administration.
“Janet Yellen is among the most accomplished economic leaders of our time, and will break ground as the first woman to serve as Treasury secretary. Dr. Yellen brings unique experience to bear as former chair of both the Fed and the President’s Council of Economic Advisers,” Beyer said. “I consulted Dr. Yellen about unemployment policy while drafting automatic stabilizer legislation early in the pandemic, and know her to be a person of impressive acumen who is deeply committed to helping extend economic opportunity to all Americans.”
Wally Adeyemo will be the nominee to serve as deputy secretary of the Treasury. Adeyemo, who previously served as the chief of staff at the Consumer Financial Protection Bureau, the deputy director of the National Economic Council and deputy national security advisor, would be the first African American deputy secretary of the Treasury.
The transition team also indicated Monday that the president-elect will nominate Neera Tanden to serve as director of the Office and Management and Budget.
“In Neera Tanden, the president-elect’s team gets another deeply experienced and historic nomination,” Beyer said. “Tanden would be the first woman of color to lead the Office of Management and Budget, and her policy experience and devotion to strengthening the middle class are beyond question.”
Rounding out the list of nominees announced by the transition team on Monday is Cecilia Rouse, one of the nation’s top labor economists, who will be the nominee to serve as chair of the Council of Economic Advisers.
“Cecilia Rouse is likewise highly accomplished, having previously served on the Council of Economic Advisers where she helped develop President Obama’s response to the Great Recession,” Beyer said. “Dr. Rouse will be the first Black woman to lead CEA, and I look forward to hearing her testimony before the Joint Economic Committee. Dr. Rouse will be joined by Heather Boushey and Jared Bernstein, who I know well as champions in the fight against inequality. Dr. Boushey and Dr. Bernstein both testified before the Joint Economic Committee earlier this year and their commitment to restoring full employment is appropriate and admirable.
“This economic team has the depth of knowledge and breadth of experience our country needs, and they know that our recovery must include people of color, women, low-wage workers, front line workers, the unemployed, young people, retirees and others who have felt the worst effects of this pandemic. Where required, they deserve and should receive a prompt and fair confirmation process,” Beyer said.
Story by Chris Graham