Meet Your Bank Account’s New Dream Team: Biden’s Picks for Economic Recovery

President Biden came in to office with the right goal in mind. Diversify the people in power!! For far too long we have had too many old white men in power making decisions for a country of people that were much more diverse. With Biden as the new president-elect he is starting to try and change that.

First up is Janet Yellen, who Biden named as treasury secretary. Janet was the former chair of the federal reserve, as well as being a Professor at Harvard and U.C. Berkeley. If confirmed by the Senate Janet will be the first woman to ever have the job. Not much conflict on this choice, with Former Obama Economic Council Chair Austan Goolsbee saying that she is probably the most qualified candidate and that she is the biggest rock star the economic team has.

Next up is Neera Tanden, who if confirmed would be the first woman of color and first South Asian American to become director of the Office of Management and Budget. She is the CEO and President of the Center for American Progress whose mission is to expand opportunity for all Americans. This pick is controversial because she has already displayed contempt for some republican senators, who control the majority of the Senate right now. This will be a close one, with CNN saying it may come down to one or two votes.

To head the Council of Economic Advisers is Cecilia Rouse, a Princeton economist, who served on this council when Obama was president. If confirmed would be the first Black woman to head this position. Earlier this year Cecilia spearheaded a letter signed by many other economists asking for “at a minimum, continued support for the unemployed, new assistance to states and localities, investments in programs that preserve the employer-employee relationship, and additional aid to stabilize aggregate demand.”

Finally is Adewale “Wally” Adeyemo who Biden named as deputy Treasury Secretary. Wally served under the Obama administration on the National Economic Council and last year was named as the first president of the Obama Foundation whose mission is to inspire people to take action to change their world for the better. Wally would be the first Black man to be elected to deputy to the Treasury Secretary.

This new super team will hopefully help our economy going into 2021, in a time where everything is kind of up in the air. With some diversity in powerful economic positions I hope to see some of the issues they deal with help people who really need it. With the majority republican Senate it will be interesting to see who will be elected, but those who have money in the stock market will be happy to know that every one of Biden’s economic team are more than qualified and ready to stabilize our economy and help out those affected by this pandemic.

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